Euro up versus USD, pound

The euro gained on the US dollar and the pound on Friday on comments from a European Central Bank official that Eurozone interest rates will hold steady at the same time as US consumer confidence was reported at its lowest point in 26 years and most assumptions were that UK interest rates will continue to decline.

In late morning trade in New York, the euro was worth $1.5823 while the pound traded at 80.23p to the euro after hitting a new low at 80.33p to the shared currency.

After interest rates in South Africa were raised to 11.5 percent on Thursday, the rand gained on the greenback on Friday, trading as high as R7.7487 to the dollar before trading at R7.8055 to the dollar at late morning in New York.

The yen and the Swiss franc managed the only gains on the day versus the rand, with a rand worth ¥12.943 and trading at R7,8051 to the Swiss franc, as investors avoided carry trades.

With the yen and the Swiss franc up versus all major currencies, late morning in New York fuond the yen at ¥101.0800 to the dollar and at ¥159.9339 to the euro, while the Swiss franc was at SFr1.0002 to the greenback and at SFr1.5826 to the euro.

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