USD, pound gain on euro

The US dollar was stronger in relation to commodity-related currencies on Thursday as prices for gold, oil and other commodities continued to drop as analysts and traders were concerned that demand for commodities will decline.

The dollar was at 89.67 cents to the Australian dollar in early afternoon trade in New York, while it was worth 97.21 cents to the Canadian dollar and it took R8.2455 to buy a dollar.

The greenback was also stronger versus the euro at $1.5428 after being at $1.5405 earlier and traded at $1.9824 to the pound.

The pound gained on the euro after the Office of National Statistics reported that retail sales were up 1 percent in the UK in February over January’s figures.

At early afternoon in New York, the pound traded at 77.83p to the euro, but it had dropped versus the yen to ¥195.3552 to the pound.

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