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US Dollar Slumps To Record Low Against Euro, Loonie Soars

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The dollar fell to a record low against the euro for the seventh consecutive session while the Canadian dollar hit a 31-year high as inflation data raised expectations that the Federal Reserve Bank would again lower interest rates.

The 13-nation European currency reached $1.4274 in late New York trading -- exceeding its previous peak of $1.4189, reached Thursday. The euro had bought $1.4160 in New York late Thursday.