Euro's Plunge Shows No Signs of Abating

BERLIN -- After lamenting the euro's prolonged slide for months, even the most ardent supporters of the beleaguered currency now appear resigned that it will continue to slip.

Thursday the euro hit a new all-time low against the dollar, ahead of economic data Friday that are expected to show that America's economy continues to grow at a faster rate than Europe's. In late European trade Thursday, the euro was at 82.74 cents.

The euro's prolonged skid was halted briefly after the world's leading central banks intervened in the foreign exchange markets Sept. 22. But the descent began anew after European Central Bank President Wim Duisenberg made remarks in a newspaper interview that led traders to believe further immediate intervention to support the euro was unlikely.

Red-Faced

Since the euro's inception in January 1999, the currency has dropped an embarrassing 30% against the dollar. Some euro-zone politicians, most notably German Chancellor Gerhard Schroeder, have tried to accentuate the boon to the region's exporters. But as the euro now appears set to continue its limbo act, the real possibility of longer-term damage from the currency's weakness looms ever larger. ...