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To: Kenneth E. Phillipps who wrote (501118)11/30/2003 7:57:49 PM
From: Kenneth E. Phillipps  Read Replies (1) | Respond to of 769670
 
Euro Rises to Record High Against Dollar
November 30, 2003 7:14:00 PM ET

TOKYO (Reuters) - The euro hit a record high against the dollar on Monday as the U.S. currency came under pressure because of the gaping U.S. current account gap and geopolitical risks.

Euro-buying against the yen, which was hurt by worries about the Tokyo stock market after the nationalization of a regional Japanese bank at the weekend, also supported the single currency, traders said.

The euro rose to around $1.2035 by 7:05 p.m. EST, its highest level since its launch in January 1999 and up nearly a half cent from late Friday levels. It also rose more than half a yen to its highest level in more than two months against the Japanese currency.