Record euro high worries exporters

Dublin- There are fears of job losses in Irish exporting companies, as the euro continues to strengthen against major currencies.
The small business lobby group ISME warned of a threat to jobs as the euro hit a new record today.
The euro hit 76.54p this afternoon, the highest level since its creation in 1999.

The British currency weakened on expectations that the Bank of England would cut interest rates again. Figures showing that UK house prices fell for the fourth month running and a weak report on consumer sentiment also affected sterling.
Against the dollar, the euro reached a record $1.5239 this morning before easing back to below $1.52 late today.
The US currency has fallen sharply in the last few days on increasing sentiment that the US economy could be set for a sharp slowdown - even recession - and that the US Federal Reserve will reduce interest rates.
At the same time, comments from ECB officials have dampened expectations of an early euro zone interest rate cut.