Although it recovered to .801 in later trading, the Dollar hit a record low this morning against the Euro, falling to .799. No suprise here, as the Dollar has been falling steadily for some time now. Still, it's an important psychological point. In Dollars this means a Euro is now worth $1.25. Consider that only one year ago, a Euro was worth $1.04, and two years ago it was worth $0.88! There is little that should stop it on the way to $1.30 (or 0.77 Euro cents per Dollar).
At some point this is going to turn into a real problem, but most analysts think that will wait till after the election. Time will tell.