New budget travel book needed: Europe on $300 a day
Dollar declines further amid fears on deficit
The dollar faced renewed downward pressure on Tuesday, falling to fresh three-year lows against the yen and within sight of record lows against the euro, amid mounting concern over the scale of the US current account deficit.
Economists believe stronger US growth will not prevent the slide in the dollar, since it would lead to a further widening of the current account deficit, expected to reach $570bn this year.
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