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Originally published February 27, 2008 at 12:00 AM | Page modified February 27, 2008 at 3:32 PM

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Record-high euro makes European travel more expensive than ever

Euro soars to new high against U.S. dollar and the exchange rate makes it more expensive than ever for travelers to Europe

The dollar sank to new lows in Europe today against the euro, making a European trip even more expensive for American business travelers and vacationers.

The 15-nation currency exceeded a record $1.51 early today before falling slightly in currency trading. The U.S. currency has dropped 12 percent versus the euro in the last year.

Along with the rising British pound, which is nearing $2 again, the muscular euro means Americans must pay more for a hotel room in Rome, more for entrance to the Louvre in Paris and more for chocolates in Belgium.

On the other hand, the stronger euro makes shopping trips to the U.S. more appealing to Europeans. New York City in particular is a magnet for European tourists on shopping trips.

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