The US dollar fell against the euro today, as the euro gained ground from its month low earlier this week. It is thought that investors still have concerns over the US economy and have shifted to the euro as they await European economic data released later today.

Many analysts are expecting that the European sentiment index will show a down turn in the economic growth and give the European Central Bank (ECB) little scope to lower interest rates despite high inflation rates.

UK motorists are being urged to buy fuel only if they need it, as tanker driver start a four day strike over pay.

The tanker drivers, that deliver fuel to Shell forecourts in the UK, went on strike this morning and have picketed numerous sites throughout the UK.

A last ditch meeting, aimed at resolving the issue ended without agreement as the Unite Union rejected an enhanced pay offer.

It is thought that the knock on effects of the strike will be felt almost immediately.

The Bank of England had cut the UK interest rates again with a drop from 5.5 % to 5.25% after worries that the economy may be on a go slow. The interest rate cut is no surprise to leading economic analysts who had predicted is for some weeks. Ths UK interest rate cut comes after the US Federal Reserve cut borrowing costs down from 4.25% to a mere 3%.

The fear of rising prices meant that the Bank of England were not quite as strong in their move and they wanted to make sure that inflation and growth maintained a healthy balance.