Euro sets yet another dollar high

In early Monday trading, the euro touched as high as $1.4130 before falling back slightly to $1.4117.

The higher value of the euro has led to fears over job cuts in Europe, as it makes exports to the US more expensive.

Separately, gold prices are near a 28-year high, while oil has fallen. US crude lost 58 cents to $81.04 a barrel.

Oil prices have fallen back from last week's record highs thanks to production returning to normal in the Gulf of Mexico after a storm caused a number of production cuts.

London's Brent crude was down 78 cents to $78.52 in early afternoon trading in Europe.

Airbus warning

The US Federal Reserve's cut in interest rates last week, from 5.25% to 4.75%, was aimed at restoring confidence in the financial markets and in the housing sector.

The knock-on effect of further reducing the value of the dollar led to pan-European planemaker Airbus warning last week that it may have to make further job cuts if the euro continues near its current highs.

Gold was trading at around $750 an ounce in early Monday afternoon trading in London, just short of a near three-decade high.

The value of the metal usually rises in times of global markets turmoil, as it is seen as a traditional haven in uncertain times.