EUR/USD down over 2.1%
In today’s forex trading, the U.S. dollar suffered one of its biggest ever one-day losses against the euro on fears that the $700-billion bailout plan proposed by Treasury Secretary Henry Paulson will further exacerbate the growing federal budget deficit. EUR/USD stood at $1.4794 as of 6:41 EST, up from $1.4466 yesterday. Percentage-wise, the dollar was down over 2.1% according to Reuters Dealing, the largest one-day drop for the greenback since January of 2001. Since reaching a high of $1.3882 on September 11, the dollar has fallen more than 6% against the euro.