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July 25, 2008 11:21:25 AM CDT

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Dollar Gains Slightly Against the Euro

Posted Feb 25, 08 5:34 AM CST in Business 

(Newser) – European markets saw the US dollar edge higher against the euro, yen and British pound today as traders looked for clues as to whether the US economy would avoid a recession, reports the Associated Press. Today’s report on January sales of existing homes will likely cast some light on whether the subprime virus will continue to drag the economy down.

In European trading:

  • The euro bought $1.4808 dollars, down from Friday’s New York close at $1.4825.
  • The dollar bought 107.43 Japanese yen, up from 106.93 yen.
  • The British pound fell to US$1.9626 from US$1.9687.
“Traders will continue to look for suggestions as to whether the US economy can still avoid recession," said an analyst.

Source Associated Press

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A currency exchange employee changes euros and U.S. dollars in an exchange kiosk, in downtown Milan, Italy.   (Associated Press)
An Euro coin next to US dollar bills photographed July 5, 2005 in Gelsenkirchen, Germany. The euro hit a new high against the U.S. dollar in thin trading Friday Nov. 23, 2007 as speculation continued...   (Associated Press)
Illustration shows an euro coin in front of a sign of a US-dollar pictured in Hamburg, northern Germany.   (Associated Press)
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US economy  • US dollar  • euro  • housing  • currency exchange  • pound


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