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  3. The US dollar reached an all-time low against the euro yesterday for the fourth straight day, briefly pushing the European curre

The US dollar reached an all-time low against the euro yesterday for the fourth straight day, briefly pushing the European curre

admin2010-05-05  63
问题     The US dollar reached an all-time low against the euro yesterday for the fourth straight day, briefly pushing the European currency above $1.33 before recovering slightly, amid concerns about the twin US deficits and the lack of any central bank action to stop the dollar’s decline.
    The dollar also dipped to a nearly five-year low against the yen, but later regained ground.
    Yesterday, the euro rose to $1.3329 in early trading before dipping back to $1.3290 later in New York. The euro topped $1.32 for the first time the day before in European trading. US markets were closed Thursday for the Thanksgiving holiday.
    The dollar also traded near its lowest levels since December 1999 against the Japanese yen yesterday, slipping to 102.56 yen, down from 102.81 late Wednesday in New York.
    One reason the euro has kept rising is a lack of concerted action by central banks to support the dollar by selling holdings of the other major currencies.
    "$1.35 is definitely on the cards now, as for how soon we’ll get there, I’m not sure," said Riz Din, a currency analyst with Barclay’s Capital in London.
    "It increasingly looks as if, despite weaker data in the euro area, the prospects for intervention, are very, very low at current rates."
    The latest dollar collapse, fueled by concerns over the US trade and budget deficits, has taken the euro from around $1.20 about two months ago.
    Because the euro’s rise tends to make European products more expensive, European leaders have voiced fears that it might hurt the continent’s export-driven economic recovery. The European Central Bank’s president has called the rapid increase "brutal".
    But the dollar’s weakness is good news for US exporters, helping make American products less expensive overseas.
    Commerzbank economist Michael Schubert said speculation against the dollar was making its slide "a bit faster than I had expected".
    "Obviously, it’s difficult to stop the train," Mr. Schubert said in Frankfurt. A combination of intervention by central banks and positive US economic data could apply the brakes, he added.
    Economists say the European Central Bank (ECB) is wary of intervening in the currency markets on its own and the United States Would be unlikely to join in such a move.
选项 A、has reached its lowest level against euro yesterday.
B、was lower than euro in the past four continuous days.
C、is still staying in a worse position than the yen.
D、kept failing despite the central bank’s adoption of active measures.
答案B
解析 细节题。从文章的第一句可以看出，昨天美元已连续四天低于欧元，因而不能说"美元昨天已达到了与欧元比率的最低水平"；"美元在过去四天连续低于欧元"准确反映了文章的意思；从第二段可以看出美元虽一度跌至近五年来与日元比率的最低水平，但随后又恢复了平稳，因而说"美元仍然处于比日元更不利的位置"是不正确的；第一段后半部分说明中央银行未采取任何措施来制止美元的下跌。
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