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Posted AT 7:30 AM EST on 15/07/08

U.S. dollar hits new low against euro

MATT MOORE

The Associated Press

FRANKFURT, Germany — The U.S. dollar sank to a new low against the euro on Tuesday, as markets worried about the ongoing U.S. lending crisis and the state of the country's economy. The 15-nation currency rose to an all-time high of $1.6038 in European trading, surpassing its previous record of $1.6018 set on April 22. After reaching the record, the euro fell back to $1.5983 — still above the $1.

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