October 28, 2007 (LPAC)--The U.S. dollar declined against 15 of the 16 major currencies this week, in part on expectations that the Federal Reserve will open the money printing presses again by lowering the interest rate--likely by another half percentage point--at its October 31 meeting.

The U.S. Dollar Index, measuring the dollar's performance against six major currencies, it has lost 8 percent in 2007 and set a record low of 76.977 on October 26, according to Bloomberg news. The dollar hit an all-time low of $1.4395 against the euro yesterday, down five percent in just over two weeks.

Gold hit a record high Friday of $783.50 per troy ounce on the New York spot market. Gold is also rising steadily against the euro.