October 12, 2007	Friday	Ramazan 29, 1428

LONDON, Oct 11: The euro soared close its record high against the dollar on Thursday, powered by speculation the European Central Bank might raise its benchmark interest one more time between now and the end of the year.

The single European currency at one point rose to $1.4240, just shy of its record $1.4283 on October 1 and against $1.4145 late Wednesday in New York.

While the trend at the ECB is seen to favour higher interest rates, which would increase the attractiveness of the euro and drive up its value, the US Federal Reserve is considered likely to further lower its benchmark rate.

The dollar on Thursday was unable to take advantage of two positive economic reports from the United States.

In European trading on Thursday, the euro was changing hands at $1.4227, against $1.4145 late on Wednesday, 167.46 yen (165.80), 0.6992 pounds (0.6926) and 1.6788 Swiss francs (1.6733).

The dollar stood at 117.70 yen (117.22) and 1.16788 Swiss francs (1.1827).

The pound was being traded at $2.0346 ($2.0424).—AFP