Dollar in new slump against euro

The dollar weakened against the euro to hit a new record low, amid continued fears over the state of the US economy.
It took $1.540 to buy a euro in morning trade on Friday, up from $1.537 a day earlier, also a record. At the same time, one pound was worth $2.01.
Meanwhile, the dollar fell below 102 yen for the first time in three years.
Both the euro and sterling strengthened against the dollar after interest rates in the UK and the eurozone remained on hold on Thursday.
European firms are finding it harder to sell their goods as they become relatively more expensive to US products.
Speaking on Thursday, the head of the European Central Bank, Jean-Claude Trichet, said it was likely the euro would remain strong.
The US Federal Reserve reduced interest rates to 3.5% from 4.25% on Tuesday to tackle the cooling economy, but the ECB reiterated the need to focus on addressing inflation and suggested a rate cut was not imminent.