April 27, 2007	Friday	Rabi-us-Sani 09, 1428

LONDON, April 26: The euro struck a new high against the yen on Thursday and again came close to beating its record against the dollar amid about positive growth prospects for the 13-nation eurozone.

Analysts said a new record high for the euro against the dollar was possible on Friday when figures for US economic growth in first quarter are to be released.

“It seems we may have to wait for Friday’s US GDP figure to see a clear break of the euro-dollar high, considering the relatively empty economic calendar today,” Commerzbank currency strategist Gavin Friend said.

The euro struck 162.55 yen in European trade early on Thursday, its highest level ever against the Japanese currency, on expectations that strong growth would lead to further interest rate rises for the eurozone.

The European single currency also reached just shy of its record high against the US unit, before falling back to trade at $1.3596 in late European trading.

On Wednesday the single currency had set a new two-year high of $1.3665, almost touching its December 30, 2004 record high of $1.3666.

The euro hit its record against the yen as the market braced for a series of Japanese economic reports on Friday including unemployment, consumer prices and industrial output, as well as the Bank of Japan’s economic outlook report.

In the United States, key US gross domestic product (GDP) figures for the first quarter were due on Friday.—AFP