Euro hits new low

The value of the European single currency, the euro, has dropped to a new record low against the dollar.

It fell to eighty-six-point-nine cents in European and Asian trading, despite what experts say are positive economic signs in the eleven European Union countries that have joined it.

Analysts say there's no clear economic reason for the slide, though comments by the German Chancellor, Gerhardt Schroeder, may explain the loss of confidence.

He said a low euro was good for Eurozone exports.

The euro has fallen by more than twenty per cent against the dollar since its launch last year.

From the newsroom of the BBC World Service