U.S. dollar sinks against euro, poundNEW YORK April 18 (UPI) -- The U.S. dollar fell to a two-year low against Europe's euro Wednesday and a 26-year low against the British pound.
The 13-nation euro rose to $1.3614 -- a level not seen since December 2004 -- from $1.3571 late Tuesday before closing at $1.3591 in New York.
The pound rose as high as $2.0132 from $2.0073 late Tuesday before settling back to $2.0069.
The last time the pound was this high against the dollar was June 1981, six months after Ronald Reagan began his presidency and two years after Margaret Thatcher became Britain's prime minister.
"The pound is in nosebleed territory," Resolution Asset Management economist Stuart Thomson told The Wall Street Journal. But "for the time being, there is no economic reason why it shouldn't continue above $2."
The dollar also slipped to 118.68 yen from 118.85 yen late Tuesday and to 1.2050 Swiss francs from 1.2089 Swiss francs.
It fell to 1.1284 Canadian dollars from 1.1299 Canadian dollars.
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I think I'm gonna spit!!!
{sigh} I'm melancholy remembering the gold 'ole days when $1 US = $1.62 Cdn
