Dollar Falls to a Record Low Vs Euro:

OKYO (AP) - The dollar fell to a record low against the euro and to its lowest level in 12 1/2 years against the yen Monday as investors reacted nervously to news that JP Morgan Chase is buying rival investment bank Bear Stearns .

The move, aimed at averting a bankruptcy, sparked renewed worries among traders about the full extent of the credit crisis, sending Asian stock markets tumbling.

The U.S. currency also was hit by word that the Federal Reserve on Sunday cut its discount rate, or its lending rate to financial institutions, by a quarter point to 3.25 percent.

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