NEW YORK. Dec 1 1: Europe's single currency fell yesterday, relinquishing a sizeable chunk of the gains it made during the week, as investors bet that the US economy would continue to see low inflation and strong growth, reports Renters.

After dropping In Europe, the euro succumbed to further pressure early In the New York session, slouching to its lowest levels in four days against the dollar, when tame US price data sent investors scrambling to buy the greenback.

"People are back In buying the dollar again, realising the 's not a good chance of any In- ion coming back Into the marKcl any time soon, with the benign numbers that camp out

today." said Russell LaScala, chief dealer at Citicorp.

Strong gains in US asset markets also helped give the dollar a boost against the European currency, dealers said.

The Dow Jones industrial average ended 89 points higher at 11.224 as Investors celebrated a benign 0.2 per cent rise In November US producer prices that matched Wall Street expectations. ■ Excluding volatile food and energy prices, the PPI was unchanged?

The euro also fell to a lifetime low of 62.32 pence against the British pound EURGBP. before paring its losses slightly, and slumped to four-day lows against the Japanese yen EUR-JPY near 103.50.