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Euro reaches four-year low

Investors fear that tigthened financial regulations might harm Europe's efforts for economic recover

The Euro reached a four-year low against the dollar on Monday, amid fears that tightened financial measures in Europe might hurt the recovery of the eurozone.

The Euro has dropped more than 7 per cent compared to the dollar this month, its lowest since April 2006, becoming the worst-performing major currency.

Dealers say that more falls are expected for the euro this week, as investors are still not confident of the possibilities of Europe's economic recovery.

Jean-Claude Trichet, president of the European Central Bank, recently said Europe needs a "quantum leap" to quell fears that the crisis in Greece could spread to other countries in the eurozone.