U.S dollar reaches a new low

U.S dollar has reached a new low. Dollar which has been falling for quite some time especially in the Asian market slipped further to reach a new low today. Dollar recorded a 12 year new low against yen. Dollar reached 100.23 yen in Tokyo this afternoon. Experts added that it is expected that it will fall further below 100 yen. It also fell against Euro reaching a new low of 1.5590 breaking the earlier record of 1.5570. Experts say that the fall is mainly due to falling favor for dollars. It is widely believed that this fall will spark off a big interest rate cut in U.S by next week.