Dollar falls to year low against euro

The US dollar has fallen to a one-year low against the euro ahead of the G20 and Federal Reserve meetings.

The dollar dropped to $1.4840 against the euro and also fell against a number of other currencies. Traders have been moving to other currencies as signs of global economic recovery begin to emerge, with New Zealand the latest country to exit a recession - following France, Japan and Germany. The New Zealand dollar has subsequently risen against the US dollar, reaching $0.7315, its highest since early August 2008. Against the Japanese currency, the US dollar fell to 90.90 yen, while the sterling strengthened to $1.6366 from $1.6352. The low yield status of the US dollar has also ...