The dollar fell largely on Friday as stuttering stock markets and a record high oil prices weighed on the U.S. currency, while weakening risk demand improved the low-yielding yen.

The euro added to gains made in the previous session after the European Central Bank said that inflation remained their top concern, signalling that the bank has no intentions of cutting interest rates soon. The euro recovered after falling to a two-month low against the Dollar.

There is speculation that the Federal bank will be cutting interest rates in a move to try to stabalise the current market place. There is a great amount of nervousness as the dollar continues to weaken.

Yesterday say huge falls in not only the dollar but the pound, which took the pound to a six day low against the dollar and a new record low against the Euro.

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