The euro's decline against the US dollar accelerated this afternoon as mounting concerns over the euro zone economy prompted investors to push it below $1.51.
The euro was trading at $1.5027 late today, in its steepest one-day fall since June 2004. The euro is now almost 10 cents below the record high of $1.6038 struck less than a month ago.
Investors are increasingly convinced that the US economic slowdown is spreading unmistakably and irreversibly to the euro zone.
The euro started falling on Thursday after the ECB kept its key interest rate unchanged at 4.25% and referred to worsening economic conditions in the euro zone.
