October 09, 2007	Tuesday	Ramazan 26, 1428

LONDON, Oct 8: The euro slipped below $1.41 on Monday as eurozone finance ministers struggled to hammer out a common line on exchange rates.

In late European trade, the euro fell to $1.4054, compared with $1.4134 in New York late on Friday.

Elsewhere, the US currency climbed to 117.49 yen from 116.94 yen late on Friday.

The record-breaking euro was in focus as eurozone finance ministers met in Luxembourg to hammer out a joint message to take to an upcoming G7 meeting later this month. The euro had hit an historic high of $1.4283 last Monday.

Despite growing jitters in France and Italy, who lament that the surging euro ramps up the cost of exports, German Finance Minister Peer Steinbrueck led a camp of eurozone countries voicing confidence that the euro’s strength was a positive development.

“A stronger euro is better than a weak euro,” he told journalists as he arrived for the meeting between finance ministers from the 13 countries who use the European currency.

In late European trading on Monday, the euro changed hands at $1.4054, against $1.4134 late on Friday, 165.15 yen (165.32), 0.6905 pounds (0.6923) and 1.6655 Swiss francs (1.6654).

The dollar stood at 117.49 yen (116.94) and 1.1852 Swiss francs (1.1780).—AFP