The dollar took its strongest beating against a broad range of currencies in more than two years on Thursday as investors celebrated Europe's plan to contain its long-running debt crisis by dumping the safe-haven greenback according to Reuters
The dollar appeared the biggest loser from the deal, which could refocus attention on weak U.S. budget fundamentals. The euro rose 2 percent to a seven-week high against the dollar and the U.S. currency slumped to a record low versus the yen.
The euro last traded around $1.4189, up 2.06 percent on the day. The single currency's peak for the session was $1.4247, its strongest since September 6, according to Reuters data. On its way higher against the dollar, the euro burst through its 200-day moving average, adding momentum to the rally.
Read more at http://www.reuters.com/article/2011/10/27/us-markets-forex-idUSTRE74U02L20111027
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