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Ugly Day for the Dollar

TSC Staff

The U.S. dollar was getting routed Friday in the foreign exchange markets, as every major currency strengthened by at least 0.6% against the greenback.

The euro was hitting a record high yet again, surging to $1.4260 from $1.4160 a day earlier. The yen rose to 114.74 from 115.57 previously.

At the same time, the British pound jumped to $2.0438 from $2.0268 on Thursday, and the dollar fell to C$0.9928 from C$1.0011 against the Canadian dollar.

Both the Swiss franc and the Australian dollar also climbed, gaining roughly 0.7% vs. their U.S. counterpart.