July 04, 2007	Wednesday	Jamadi-us-Sani 18, 1428

LONDON, July 3: The euro climbed close to its record high against the dollar on Tuesday while the pound hit a 26-year peak against the US currency on worries over the US housing market and interest-rate differentials, dealers said.

The dollar was pressured by doubts the Federal Reserve would hike US interest rates again in the near future.Traders said the pound was surging against the dollar as dealers looked to a likely interest rate hike in Britain this week.

The pound rose to $2.0197 in early European trade -- the highest level since 1981. It later stood at $2.0166.

The euro climbed during the day to $1.3638, close to the record high of $1.3682 reached on April 27.

It ended the day at $1.3614 however, down from $1.3623 in New York late on Monday.

The dollar inched up to 122.42 yen from 122.39 late on Monday in New York.

On the London Bullion Market, the price of gold slipped to $654.25 per ounce, from $654.75 late on Monday.—AFP