MARKET WATCH

Dow Peaks as Dollar Sinks

G-20 finance ministers slow to back U.S. currency.

The Dow Jones Industrial Average hit a high for the year on Monday, while the U.S. dollar got a metaphorical vote of no confidence. The Dow's average shot up 200 points as countries pledged to increase federal spending and continue to stimulate the economy. However, the U.S. dollar was given the cold shoulder by the Group of 20 ministers, who couldn't promise any efforts to bolster it. The dollar subsequently fell to $1.50 against the euro. One currency strategist said that last week's decision by the Fed to not raise interest rates played into the lack of support, in addition to concern over America's bloating deficit.