June 21, 2002	Friday	Rabi-us-Sani 9, 1423

LONDON, June 20: The dollar slumped on Thursday in response to fresh losses on Wall Street and data showing the United States chalked up a record trade deficit in April, propelling the euro to a two-year zenith against the US unit.

Analysts said that it now appeared only a matter of time before the euro reached parity again against the dollar for the first time in over two years.

The single European currency rallied as high as 0.9645 dollars — its highest level since June 2000 — from 0.9574 late on Wednesday in New York.

Expressed another way, the dollar dropped to 1.0368 euros from 1.0445. The US unit also fell to 123.44 yen from 123.84.

The euro was changing hands at 0.9645 dollars against 0.9574 late on Wednesday, 118.93 yen (118.56), 0.6432 pounds (0.6416) and 1.4697 Swiss francs (1.4702).

The dollar was at 123.44 yen (123.84) and 1.5258 Swiss francs (1.5355)

The pound was at 1.4981 dollars (1.4913), 184.91 yen (184.72) and 2.2857 Swiss francs (2.2905).—AFP