Dollar Staggers as U.S. Unleashes Flood, Deficits Increase, Fed Cuts Rates The biggest foreign-exchange strategists and investors say the best may be over for the dollar after a four-month, 24 percent rally.

Dollar Falls to Eight-Week Low on Outlook for Rate Cut, Automaker Bailout The dollar fell to an eight-week low against the euro and dropped versus the yen on speculation the Federal Reserve will cut interest rates and the U.S. will bail out General Motors Corp. and Chrysler LLC.

Americas

Brazilian Real Weakens for Second Consecutive Day Before Fed Rate Decision Brazil’s real fell against the dollar before the Federal Reserve decides on interest rates this week.

Treasury Benefits From `Massive Paranoia' as Bailout Borrowing Cost Falls Bill Clinton was forced to abandon spending initiatives to boost the economy at the start of his presidency when advisers warned him that the borrowing needed to fund the programs would push interest rates higher. President- elect Barack Obama may not have the same problem.

Europe

Ruble Is Devalued for Second Time in Three Days as Russia Weakens Defense Russia’s central bank devalued the ruble for the second time in a week after policy makers spent $161 billion of reserves trying to defend the currency and oil revenue slumped.

Euro `Vulnerable' Versus U.K. Pound Into Year-End, Bank of America Says The euro may drop against the pound as investors take advantage of gains that have pushed the single currency to record highs against its U.K. counterpart, Bank of America Corp. said

`Hopeless' Pound Throttles Spending by Britons Headed for Europe Vacations Country musician Rob Childs shook his head in disbelief after buying euros at London’s St. Pancras International train station.

Asia

Australian, New Zealand Dollars Gain on Outlook for Fed Interest-Rate Cut The Australian and New Zealand dollars rose on speculation the Federal Reserve will cut interest rates by at least half a percentage point tomorrow, increasing demand for higher-yielding assets.

Asian Currencies Rise, Led by India Rupee, Philippine Peso, on Stock Gains Asian currencies strengthened, led by India’s rupee and the Philippine peso, as equities rallied on government plans to support economies and financial markets.

Malaysian Ringgit Gains as Asian Stocks Rise on Automaker Bailout Talks Malaysia’s ringgit rose, following its biggest weekly gain since a fixed rate to the dollar was scrapped in 2005, as Asian stocks advanced on speculation U.S. automakers will get government money to avoid bankruptcy.