Dollar Drops After U.K. Rate Cut

The dollar fell across the board Thursday as the Bank of England cut its key interest rate to a record low - but by less than had been expected by some.

Meanwhile, U.S. retailers rang in with glum sales figures for December and the Labor Department said Americans seeking public jobless aid jumped unexpectedly by more than 100,000 people.

The 16-nation euro rose to $1.3725 in late afternoon trading in New York from $1.3614 late Wednesday, while the British pound climbed to $1.5228 from $1.5132.

The Bank of England cut its rate by half a percentage point to 1.5%, the lowest level in the bank's 315-year history. The British economy has been battered by a housing crisis and a string of failed retailers. ...