The US dollar fell for a second day against the euro as Fannie Mae reported a larger-than-expected $US2.19 billion loss, indicating the worst of the housing-led economic slowdown may not be over.
The US currency, up 3% against the euro from a record low set last month, weakened as the price of oil surged past $US122 a barrel, raising concern inflation will accelerate and growth may slow further. The Swiss franc increased versus the Brazilian real and the pound on speculation investors will reduce holdings of higher-yielding assets. for more click here