The euro drops to its lowest rate against the dollar in 16 months after France sells 8bn euros of bonds at an auction.

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Euro drops after French bond sale

TEHRAN – Iran’s ailing currency took another slide Monday, losing 12 percent against foreign currencies after a U.S. decision to place its central bank under unilateral sanctions. The currency, which economists say was held artificially high for years against the dollar and euro, has lost about 35 percent of its value since September. The Iranian currency’s exchange rate hovered around 16,800 rials to the dollar, marking a record low. The rial was trading at about 10,500 rials to the U.S. dollar in late December 2010. Read full article > >

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Iranian currency slides under latest U.S. sanctions

Usually considered a safe haven in times of turmoil, the dollar is down against a basket of other currencies.

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U.S. dollar, usually world’s safe haven, declining despite plenty of global turmoil

The pound rises to its highest level against the dollar in three months, buoyed by growth in the construction sector.

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Pound rises on construction data

If Bush-era income tax cuts are extended and the deficit grows, the dollar could be further weakened — a prospect that worries U.S. allies and trading partners.

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Shift in Washington Stirs Economic Jitters Abroad