NEW YORK, Nov. 6 (AP) - (Kyodo)—The euro surged to its new all-time high of $1.4571 on Tuesday morning in New York on the back of persistent fears that subprime mortgage-related losses at U.S. financial institutions will expand.
At 10:15 a.m., the euro was quoted at $1.4550-4560 and 166.70-80 yen, compared with its 5 p.m. quotes of $1.4519-4522 and 166.52-56 yen in Tokyo.
The dollar traded at 114.50-60 yen against 114.67-70 yen in Tokyo.
The U.S. currency would not easily move out of from the current weakness, a U.S. dealer said.
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