LONDON (AFP) -- The dollar tumbled to a new record low against the euro on Monday, as the European single currency rose to 1.4438 dollars on speculation U.S. interest rates will be lowered again this week, analysts said.

Record-breaking oil prices, which may help to slow the U.S. economy, were also hurting the dollar.
The euro, which is just eight years old, stood at 1.4413 dollars in European morning trade after reaching a new pinnacle against the U.S. unit.
Elsewhere, gold prices rocketed above 790 dollars an ounce to a level last seen in January 1980.
Traders were meanwhile expecting the Fed to cut its key rate by a quarter of a point at a meeting Wednesday, making the dollar less attractive to investors.
""There appears no end in sight to the euro's strength,"" Calyon economist Stuart Bennett said.
""With the Fed set to cut rates further this week, interest rate differentials are likely to weigh even more on euro/dollar.""
U.S. policymakers lowered the Federal Reserve's benchmark interest rate by half a point to 4.75 percent in mid-September in a bid to shore up the U.S. economy in the midst of a sharp downturn in the housing market.
The Federal Open Market Committee was expected to follow up last month's cut with a further easing to borrowing costs at the conclusion of a two-day meeting.
""As the odds have risen of another interest rate cut by the Fed on Wednesday of at least 25 basis points, the euro has rallied to a fresh record high against the dollar... and also made gains against other currencies,"" ABN Amro analyst Melinda Smith said Monday.
""Dollar weakness has also flowed through into commodities with... crude reaching a new all-time high of over 93.00 dollars and gold prices up to a new 28-year high,"" she added.
A sliding dollar makes commodities priced in the U.S. unit cheaper for buyers using stronger currencies. This leads to increased demand and in turn higher trade prices for raw materials such as oil and gold.
The dollar has hit fresh record lows against the euro on a regular basis in recent weeks on concerns over weak U.S. economic data, especially regarding the U.S. housing market.
Investors are also awaiting the latest U.S. monthly labor market report, due Friday, for fresh clues on the health of the U.S. economy, the world's largest.
In European trade on Monday, the euro changed hands at 1.4413 dollars, against 1.4391 dollars late Friday, at 164.90 yen (164.46), 0.7006 pounds (0.7012), and 1.6767 Swiss francs (1.6754).
The dollar stood at 114.42 yen (114.24) and 1.1632 Swiss francs (1.1639).
The pound was at 2.0577 dollars (2.0522).
In London, the price of gold jumped to 792.80 dollars per ounce at the morning fixing from 779.15 dollars late on Friday.