A report showed today that US manufacturing activity slowed in September, bolstering the case for another rate cut.
The Institute for Supply Management (ISM) said its index of national factory activity fell to its lowest since March and missed analysts' forecasts.
The index of national factory activity fell to 52 from 52.9 in August.
While a figure above 50 still indicates expansion, the index did offer further proof of a slowdown in the US economy.
Signs of a slowdown have raised hopes of a US interest rates cut - weakening the dollar which has fallen to record lows against the euro in recent days and earlier today hit another record low of $1.4283 at one point before falling back to around $1.4255.
The prices paid component of the index also fell, soothing inflation fears.
