Euro hits record high vs. dollar, CYP follows

The euro reached a fresh record high against the dollar Tuesday in the wake of weak US economic data. The European single currency hit 1.4155 dollars, beating its previous record of 1.4130 set on Monday.

The Cyprus pound, which closely tracks the movement of the euro also hit a new record high of 2.4180 or 0.4134 at Tuesday’s fixing. The pound, which will be scrapped from January 1, 2008 was steady at 0.5860 against the euro, close to its official conversion rate of 0.585274.