Dollar, pound down versus euro

The US dollar traded close to record lows versus the euro on Monday while the pound touched a new record low versus the shared currency during the session on reports that a regional manufacturing index was lower in March in the US and home prices in England and Wales were lower during the month.

At just past 11 a.m. in New York, the dollar traded at $1.5842 to the euro and the pound was at 79.69p to the euro after touching a low of 79.73p earlier.

Additionally, the pound dropped by 8.2 percent versus the euro in the first quarter, its largest-ever quarterly decline versus the shared currency, while the dollar fell 8.4 percent versus the euro in the quarter.

The euro’s gains came on a report that consumer prices in the Eurozone were up 3.5 percent in March, at their fastest pace in close to 16 years.

The yen gained 12 percent versus the US dollar in the quarter and traded at ¥99.6650 to the greenback in late morning trade in New York, while at the same time it was at ¥157.8892 to the euro and at ¥198.1266 to the pound.

On the other hand, the South African rand dropped around 18 percent versus the dollar during the quarter even though the currency was higher versus the dollar at late morning in New York, to R8.1265 to the dollar on a lower South African trade deficit in February and on higher precious metals prices on the session.

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