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The US dollar reached an all-time low against the euro yesterday for the fourth straight day, briefly pushing the European currency above $1.33 before recovering slightly, amid concerns about the twin US deficits and the lack of any central bank action to stop the dollar’s decline.
The dollar also dipped to a nearly five-year low against the yen, but later regained ground.
Yesterday, the euro rose to $1. 3329 in early trading before dipping back to $1. 3290 later in New York. The euro topped $1.32 for the first time the day before in European trading. US markets were closed Thursday for the Thanksgiving holiday.
The dollar also traded near its lowest levels since December 1999 against the Japanese yen yesterday, slipping to 102.56 yen, down from 102.81 late Wednesday in New York.
One reason the euro has kept rising is a lack of concerted action by central banks to support the dollar by selling holdings of the other major
A. the euro will stop at a high level all along.
B. there is no way for US to brake the falling of dollar.
C. ECB is very cautious in taking measures to intervene in the currency market.
D. US Federal Reserve would help ECB by showing positive economic data openly.
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