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Market unimpressed by Colt Telecom's recent resurgence.

THE euro is increasingly likely to reach parity with the dollar in the next three months, according to research by Lehman Brothers. The sinking US currency could jeopardise Europes economic recovery by undermining exports and hitting corporate earnings.

Michael Dicks, an economist at Lehman Brothers in London, believes there is now a 20% chance of a euro being worth one dollar by mid-September.

The euro currently buys around 94 cents. It briefly hit the 95-cent mark last week, its highest for 17 months. The euro was worth $1.17 when it launched on 1 January

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