The euro fell yesterday to within a few cents of its record low set last week below 84 cents against the dollar, undermined by rises in US share markets and with the prospect of further joint intervention looking increasingly improbable, dealers said.

Strength in US stock markets helps fuel demand for dollars and thwarts any hope of a reversal of funds flowing out of the euro zone for investment in the dynamic US economy.

In late trading in London, the euro bought $0.8362 versus $0.8412 late on Friday in New York and compared to a record low of $0.8330 set last Wednesday.