Good news for UK companies that import from or travel regularly to Europe: the pound has climbed above £1.40 against the euro for the first time since 2007.
The euro was also at its lowest level against the dollar for 12 years.
The single currency has been weakening since the ECB announced its quantitative easing plans. While US Federal Reserve, the Bank of England and the Bank of Japan have also used QE to create new electronic money in the past, the practice does drive down currencies.
Visitors to the Eurozone will receive more euros in exchange for their pounds or dollars, while exports from the area will become cheaper.
Currency traders are preparing for the euro to fall below parity against the dollar in the coming months, as further QE measures coincide with the first interest rise in the US since the global recession. Since the beginning of 2015 the euro has fallen more than 11 per cent against the dollar.
The strength of the dollar added pressure on a number of emerging market economies including Mexico, Turkey and Brazil, The Guardian reported.
A total of US$4.88 trillion of debt has been sold so far this year reports Dealogic, close to the level of 2007 when US$4.91 trillion of bonds were issued over the same period.
The German industrial gases group has ended talks with its US peer on a potential union to establish a market leader.
The US exchange said it will introduce incentives from next month to make lower-volume exchange traded funds easier to buy and sell.
A survey of 1,000 merger and acquisition dealmakers finds that seven in 10 expect Brexit uncertainty to limit the number of deals.