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FRANKFURT, Germany (AP) - The euro reached an all-time high against the dollar Friday as weak U.S. economic figures reinforced worries about a widening disparity between growth in Europe and the United States.
The euro hit $1.3682 in midday trading in Europe, shooting past its previous high of $1.3667 in December 2004 after the U.S. Commerce Department reported that economic growth slowed to a 1.3 percent annual rate in the first quarter of 2007, its weakest performance in four years. It then settled back a bit to $1.3677.
The 13-nation euro also hit a new high against the Japanese yen after inflation data from Germany, coupled with improved business and consumer sentiment, pushed it to 162.91 yen, up from the previous high of 162.53 yen on Thursday.
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