US dollar hits new record low
Worsening conditions within the US real estate market saw the dollar fall to its lowest ever level against the euro on Monday.
In Asian trading, the euro reached 1.3830 US dollars, having risen from 1.3820 on Friday in New York.
Additionally, the dollar continued to fall back against the yen to 120.93.
The US dollar had reached a 26-year low against the pound earlier in the month and had traded at a new record low against the euro.
Kikuko Takeda, currency research manager at the Bank of Tokyo-Mitsubishi UFJ, suggested that several factors had influenced the recent decline of the US dollar, News.com.au reports.
"The dollar remains weak because of concerns about the US housing market and worse-than-expected corporate earning reports which weighed on stocks," Mr Takeda remarked.
Last week, Ben Bernanke, chairman of the Federal Reserve, predicted that losses on sub-prime loans could amount to $100 billion.