How Low Can the US Dollar Go?

Bad news today for the greenback, writes the Japan Times.

The dollar nosedived below ¥96.00 Monday for the first time in nearly 13 years as fears of a U.S. financial industry meltdown persist amid America’s festering subprime mortgage loan crisis.

At 5 p.m., the greenback traded at ¥97.37-39 in Tokyo, down from ¥100.28-30 at 5 p.m. Friday. The dollar briefly dropped to ¥95.77, marking its lowest level since August 1995.