FRANKFURT, Germany (AP) — The euro reached an all-time high against the dollar Friday as weak U.S. economic figures reinforced worries about a widening disparity between growth in Europe and the United States.
The surge will not be kind to Americans visiting Europe this summer, who will pay more for hotel rooms in Rome, entrance fees at the Louvre and chocolates in Belgium.
The euro hit $1.3682 in midday trading in Europe, shooting past its previous high of $1.3667 in December 2004 after the U.S. Commerce Department reported that economic growth slowed to a 1.3% annual rate in the first quarter of 2007, its weakest performance in four years. The dollar then settled back a bit to $1.3677.
The 13-nation currency then settled back to $1.3655 in late European trading, still up from its $1.3601 level in New York late Thursday.
The euro also hit a record against the Japanese yen after inflation data from Germany, coupled with improved business and consumer sentiment, pushed it to 162.91 yen, up from the previous high of 162.53 yen on Thursday.
http://www.usatoday.com/money/economy/2007-04-27-dollar_N.htm