The euro fell in the last 24 hours, dropping against the yen, amid news of a new entrant to the countries using the single currency.

This morning the yen stood at 140.739 to the euro, while the dollar was at 1.2896 against the euro.

The movement came after comments from European Central Bank Governing Council representative Christian Noyer in an interview with Reuters indicated Asia needed to be more flexible.

He argued that further work was needed to combat the sharp swings and differentiations across the world currency markets, arguing it was important to tackle any imbalances.

Mr Noyer's comments were interpreted by analysts as an effort to detach the problems of the dollar - which has been in freefall of late - from the euro.

The news came as the European Commission confirmed Slovenia would be the 13th country to adopt the single currency.

Having met the relevant criteria - concerning inflation, budget deficit and public debt - the country was approved for membership in the European club.

However, Lithuania, which had also applied, was rejected on the grounds of its rate of inflation.