The dollar sank to an all-time low against the euro with new reports showing consumer prices heading higher and construction of new homes plunging in March to the lowest level in 17 years.

The euro surpassed its previous record of $1.5912 set April 10 and was well above the $1.5790 it bought in New York late Tuesday.

The euro continued to gain strength with new evidence of inflation likely muffle calls for the European Central Bank to lower its interest rate from 4%. The bank’s primary mission is to combat inflation.

Categories: Business
Tags: dollar, euro, strength, stumbles, value