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Euro Reaches New Record High

The EU’s common currency climbed to a new record high of $1.2511 on Monday. The increase in value was due to low trading volume at the end of the year, however, traders said, adding that small transactions can have a significant effect during that time. In response to the euro’s steady rise, officials at the European Central Bank are considering lowering interest rates to dampen the trend, according to the Financial Times Deutschland. A decision is expected within the next eight weeks, the paper wrote.