Euro sees gains on German investor confidence

The euro gained on the US dollar and the yen after a new survey showed that German investor confidence grew in February and after a German official said he does not see any need for change in Eurozone monetary policy.

In early afternoon trade in New York, the euro traded at $1.4588 per euro, at ¥156.5564 to the euro and at 74.38p to the shared currency.

The yen declined against all major currencies on gains in equities markets and after Warren Buffet offered to reinsure up to $800 billion in municipal liabilities carried by several bond insurers.

The Japanese currency traded at ¥107.3150 to the US dollar and at ¥210.4748 to the pound.

The Canadian dollaron gains in equities markets and as investors bought high-yield currencies, with the loonie trading at ¥107.4386 versus the yen in early afternoon trade in New York and it cost $1.0012 to buy a Canadian dollar.

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