LONDON, June 18: The euro struck a fresh record high against the yen on Monday as expectations faded of a quick increase in Japan's ultra-low interest rates, dealers said. In late European trading, the euro reached 165.74 yen, up from 165.20 late on Friday in New York. The European single currency also rose to 1.3402 dollars, from 1.3385 late on Friday.

Meanwhile, the yen remained the weakest performer of the day, hitting a fresh four-and-a-half year low against the dollar of 123.68 yen, a new record low of 165.74 yen per euro, and multi-year lows against the pound.

The euro was changing hands at $1.3402, against $1.3385 on Friday, 165.74 yen (165.20), 0.6762 pounds (0.6773) and 1.6629 Swiss francs (1.6615). The dollar stood at 123.68 yen (123.43) and 1.2410 Swiss francs (1.2412). The pound was being traded at 1.9820 dollars (1.9758).—AFP