Euro hits record low versus Australian dollar

LONDON: The euro hit a record low against the high-yielding Australian dollar on Tuesday, weighed down by expectations of another interest rate cut from the European Central Bank in the near-term.

The euro fell to A$1.1645, its lowest level since the single currency bloc was created.

The growth-linked Australian dollar also benefitted from reports China - one of Australia's key export markets - would increase fiscal and monetary policy support to the economy in the second half of the year.