On the basis of the last consecutive three trading days we can strongly confirm that the U.S. economic condition has definitely become less favorable and it is about to face a severe dollar crisis. During those last three days, the dollar dropped several times to new records low versus the 15-nation currency.

Today at midnight, the Republic of Cyprus and the Republic of Malta, both small island states in the Mediterranean and former British colonies, adopted the euro as their official currency; less than four years after their accession to the European Union.

As consumer confidence slipped in France, one of Europe's largest economies, euro fell against dollar Thursday.

A referendum on whether to adopt the euro and drop other exemptions to European Union cooperation will be held in Denmark, the premier said Thursday.

The dollar rose slightly against the yen in Asia Thursday as traders remained cautious on prospects for the U.S. economy.

The euro currency used by 13 European Union countries touched record highs against the dollar for the past eight trading days. And that worries the Europeans whose exports are getting more and more expensive.

Financial markets have steadied since the September 18 cut in short-term US interest rates. But the dollar continues to fall while the prices of raw materials rise.

2008 Eurozone entrants Malta and Cyprus could offer a boost overseas property purchases. According to currency specialist HiFX, Britons looking to invest in property abroad may soon start paying more attention to Malta and Cyprus.

The British pound soared above US$2.05 Wednesday for the first time in 26 years. At 0750GMT, the British currency was quoted as US$2.0513 after trading as high as US$2.0548 earlier in the day.

The 13-nation euro rose Friday against the U.S. dollar, as traders looked ahead to economic reports from Washington for hints on future interest rate decisions. In morning trading, the euro bought US$1.3311, up from US$1.3307 in late New York trading the day before.