Euro hits record high against dollar

THE euro hit a new record high against the dollar, rising above the former record achieved last February of $1.2927 as traders trundled out of the dollar and into the European currency.

The beleaguered US currency weakened across the board as many investors took the opportunity to align with the more secure euro.

The dollar’s bounce from strong US employment data earlier in the day proved fleeting, as dealers, got out of the dollar en masse and into the euro.