The euro again hit its highest level for two years against the US dollar this afternoon, having earlier struck a record high of 160.12 against Japan's yen.
The rise against the yen followed a decision by the Bank of Japan to leave its main interest rate at 0.5%.
The euro was trading at $1.3435, having earlier matched a two-year high of $1.3442 reached last week. The dollar is being hit by continuing fears about the health of the US housing market and an escalating trade dispute with China over copyright.
Meanwhile, the yen is being weighed down by widening rate differences as dealers continue to take advantage of Japan's low borrowing costs to raise funds to invest overseas, analysts say.
In so-called carry trades, investors borrow currencies from countries with low interest rates, such as the yen, in order to invest in assets in countries with higher interest rates, such as Britain or Australia.
