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Euro hits four-year high above 1.12 dollars.
(From Agence France Presse)
The dollar slumped, allowing the euro to rally past 1.12 dollars to a new four-year high, in the wake of worse-than-expected US manufacturing data.
The single European currency rose to 1.1235 dollars, levels not seen since February 1999, from 1.1172 Wednesday in New York.
The dollar also fell to 118.52 yen from 118.95 late on Wednesday.
The US currency slid after a key survey showed that a US manufacturing slump deepened in April, with activity hitting an 18-month low even as Iraq war worries evaporated.
The Institute for Supply Management (ISM) purchasing managers' index, based on a survey of supply executives, slid to 45.4 points in April -- the lowest since October 2001 -- from 46.2 points in March.
Any reading below 50 points indicates an industry contraction.
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