Dollar nears record low against the euro

CONCERNS over the US economy and rising EU interest could push the euro to $1.40 to the dollar before it eases back towards the end of the year.

By late afternoon yesterday the euro hit $1.36, for the first time since December 2004, just fractionally short of its all time high.

Elsewhere the greenback hit a 17-year low against sterling and slumped to a 15-year trough against the Australian dollar.