Euro enjoys another dollar high

The high value of the euro is not good news for European exporters

The euro has climbed to yet another all-time high against the dollar, as dealers anticipated the publication of weak US macroeconomic data.

In early Thursday trading the euro reached $1.4189 , beating the $1.4162 record set on Wednesday morning.

Figures on new US home sales are due later, with analysts expecting more gloomy economic news.

If the figures are weak, it will raise expectations that the Federal Reserve will cut interest rates still further.

Export concerns

Already this week, figures have indicated that US consumer confidence has fallen to a near two-year low, while house prices have seen the sharpest drop in 16 years.

The Fed cut US interest rates to 4.75% from 5.25% last week - the first US rate cut in four years - in a move aimed at restoring confidence in both the housing and financial markets.

The high value of the euro has caused concern among European exporters, as it makes their products more expensive in the US.

Planemaker Airbus has already warned that jobs could be affected if the euro remains so strong.