The euro remained almost level with the dollar yesterday after statements by the German Chancellor, Mr Gerhard Schroder and the French President, Mr Jacques Chirac, indicating complacency about the currency's weakness.
In late trading, the euro fell to $1.0072 in London from $1.0087 late on Monday. Earlier that day, the single European currency hit a record low of $1.0038 since its introduction on January 1st.
Against the yen yesterday, the euro set a new record low at 102.30 yen before regaining slightly at 102.55 yen in late-afternoon trading. However, it remained lower than its 103.12 yen level on Monday.
The dollar fell to 101.82 yen from 102.20 yen on Monday.
"The comments from a number of European officials today still indicate, one they won't intervene, that they don't care that much about the currency," Mr Tony Norfield, global head of treasury research at ABN Amro in London, said.
Echoing remarks made on Monday by the president of the European Central Bank (ECB), Mr Wim Duisenberg, Mr Schroder and Mr Chirac expressed confidence in the euro's capacity for strengthening against the dollar.
