The dollar fell on Friday ahead of a meeting of the Group of Seven and disappointing results from U.S. industrial conglomerate General Electric Co.
The dollar dropped to $1.5813 versus the euro compared to $1.5742 yesterday. It was within one cent of its lowest price ever versus the euro. The dollar fell versus the yen to 100.94 per dollar from 101.95 yen.
Group of Seven officials meeting in Washington today said the global financial turmoil which started last summer remains challenging and more protracted than they had expected.
``Since our last meeting, there have been at times sharp fluctuations in major currencies, and we are concerned about their possible implications for economic and financial stability,'' the G-7 said in a statement. ``We continue to monitor exchange markets closely, and cooperate as appropriate.''
Meanwhile GE - the second-largest U.S. company by market value and a bellwether for big companies - missed its profit forecasts citing a slowing U.S. economy and tough capital markets.