High-risk currencies extend losses, dollar rallies

LONDON, Nov 3 (Reuters) - The euro hit a four-week low against the dollar on Tuesday, while other currencies considered to be high-risk took a hit on waning risk appetite, which also triggered more selling in European shares.

The euro EUR= fell around 0.8 percent on the day to $1.4646 according to Reuters data, its lowest since early October.

The Australian dollar AUD=D4 fell more than 1 percent on the day against the U.S. currency to $0.8916, approaching its weakest in nearly a month.

The Australian currency was also pressured lower on the view that Australia's central bank will be cautious about raising interest rates in the future following a widely expected lift earlier in the day.

European shares .FTEU3 fell more than 2 percent to a one-month low, struggling as news of a shake-up in the UK banking sector made investors wary of risky assets.

(Reporting by London Forex Team)