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| Version 0 | Version 1 |
|---|---|
| Dollar in new slump against euro | Dollar in new slump against euro |
| (40 minutes later) | |
| The dollar weakened against the euro to hit a new record low, amid continued fears over the state of the US economy. | The dollar weakened against the euro to hit a new record low, amid continued fears over the state of the US economy. |
| It took $1.540 to buy a euro in morning trade on Friday, up from $1.537 a day earlier, also a record. At the same time, one pound was worth $2.01. | It took $1.540 to buy a euro in morning trade on Friday, up from $1.537 a day earlier, also a record. At the same time, one pound was worth $2.01. |
| Meanwhile, the dollar fell below 102 yen for the first time in three years. | Meanwhile, the dollar fell below 102 yen for the first time in three years. |
| Both the euro and sterling strengthened against the dollar after interest rates in the UK and the eurozone remained on hold on Thursday. | Both the euro and sterling strengthened against the dollar after interest rates in the UK and the eurozone remained on hold on Thursday. |
| European firms are finding it harder to sell their goods as they become relatively more expensive to US products. | European firms are finding it harder to sell their goods as they become relatively more expensive to US products. |
| Speaking on Thursday, the head of the European Central Bank, Jean-Claude Trichet, said it was likely the euro would remain strong. | Speaking on Thursday, the head of the European Central Bank, Jean-Claude Trichet, said it was likely the euro would remain strong. |
| The US Federal Reserve has been reducing interest rates to tackle the cooling economy, but the ECB reiterated the need to focus on addressing inflation and suggested a rate cut was not imminent. | |
| Inflation in the eurozone has reached its highest in six years. | Inflation in the eurozone has reached its highest in six years. |
| Analysts are awaiting figures on US non-farm payrolls, due at 1330 GMT, and fear they could show that the world's biggest economy is heading for a recession. | Analysts are awaiting figures on US non-farm payrolls, due at 1330 GMT, and fear they could show that the world's biggest economy is heading for a recession. |
| "Markets are braced for a rather bad employment number today. These ongoing recessionary worries are hitting risk appetite across the board," said Geoffrey Yu, currency strategist at UBS in Zurich. | "Markets are braced for a rather bad employment number today. These ongoing recessionary worries are hitting risk appetite across the board," said Geoffrey Yu, currency strategist at UBS in Zurich. |