Today’s news in tech newsRead moreThe Eurozone, which was already seeing some volatility in its own currency after Brexit, rose to $1.17, from $1,1574.80.

The rate was the highest since July 1 and came as sterling fell to a record low against the dollar, hitting a four-year low of $1:2.25.

It also marked a sharp decline from the $1 to $8.60 the US Federal Reserve raised its benchmark interest rate in December to $2.5 trillion to help stave off a run on the currency.

The move has made it difficult for some businesses to borrow funds to stay afloat and raised concerns that it could make it harder for businesses to buy or sell assets as they do today.

Some economists say that, with the market now on the edge, there is a risk that the rise in the Euro will bring a spike in inflation that could drive prices higher.

The EUR rose to its highest level in six months at 1.17 per euro, after falling to 1.12 last week.

It was last up 2.8 per cent at 1,1432.80 by 10:37am GMT.

The dollar weakened to 63.23 yen from 64.63 yen on Thursday, after hitting a record high of $US66.94 on Thursday.

The US dollar has been falling since the Brexit vote, falling as much as 6 per cent against the euro.

It has now fallen 2 per cent in three days and hit a new three-year high of 78.10 yen, its lowest since July 6.

The euro is also down 0.2 per cent to $US0.5387, with its biggest one-day drop since May.

The rupee rose to 83.23 from 82.85 to touch a five-month high, while the Japanese yen has risen to 74.98 from 74.62.