Euro hits four-year high against dollar

Bad news about unemployment in the United States today sent the euro to its highest point against the dollar in nearly four years, with the currency hitting 1.164 dollars in European trading.

The US unemployment rate increased a tenth of a percentage point to 5.8% in February, as companies slashed 308,000 jobs – the steepest one month slide since a slump in November 2001 in the wake of the September 11 terrorist attacks.