Sterling, euro gain on US dollar

The US dollar weakened Tuesday, with the euro hitting a new high against the greenback on warnings from the retail sector and homebuilders.

In midday trade in New York, sterling had added 0.5 percent to $2.0240 versus the US dollar, a bit down from a 26-year high, while the euro had gained 0.7 percent to $1.3721 in relation to the dollar.

At the same time, the yen was 1 percent higher to ¥122.07 against the US currency.

The Canadian dollar, however, lost ground to the greenback, falling 0.3 percent to C$1.0514 to the dollar after the Bank of Canada sent interest rates higher, to 4.5 percent.

Besides gaining on the US dollar, the yen also found itself stronger in relation to the Australia and New Zealand dollars.

The Australian dollar dropped 0.8 percent to ¥105.25 versus the yen, while the kiwi fell 1 percent to ¥95.18 on steeply declining business confidence.

Story link: Sterling, euro gain on US dollar