LONDON, Sept 2: The euro on Tuesday slid below $1.45 for the first time since February as the market anticipated lower interest rates in the eurozone and stronger growth in the United States, analysts said.

In early London trade, the European single currency dropped to $1.4467, the lowest point since February 12.It rose from this level to trade at $1.4524 in late European trade, compared with $1.4606 late on Monday in London.

Elsewhere, the yen fell slightly after Monday’s abrupt resignation of Japanese Prime Minister Yasuo Fukuda.

The pound meanwhile struck a record low versus the euro for the second day in a row after the Organisation for Economic Cooperation and Development (OECD) forecast a recession in Britain this year.

Sterling also reached the lowest point against the dollar for more than two years.

Part of the weakness of the euro against the dollar was explained by expectations that the European Central Bank would need to consider a cut in interest rates sooner rather than later.

On the London Bullion Market, the price of gold dropped to $798.50 per ounce from $822.25 late on Monday.—AFP