US Dollar Index hits record low

See US Dollar Index Chart (courtesy of INO.com)

Federal Reserve Chairman Ben Bernanke visit to Capitol Hill yesterday did not give quite a lot of confidence about our economy.

With future interest rate cuts become more likely, the value of the dollar continues its downward spiral.

The Euro hit an all-time high of $1.5229 on Thursday. The British pound is at $1.9841. The dollar dipped to 104.07 Japanese yen. All are approaching three-year lows.

Our dollar index, a measure of the US unit's strength against a basket of foreign currencies, fell to a record low of 74.22.