Data helps USD gain on euro, yen

The US dollar strengthened in relation to the euro and the yen Monday, overcoming earlier weakness stemming from worries about US consumer confidence after equities markets remained positive and after the Conference Board reported that its index of leading US economic indicators gained 0.1 percent in April to 102.

At just before 11 a.m. in New York, the dollar traded at $1.5514 to the euro while it took ¥104.4950 to buy a dollar.

The Australian dollar strengthened to 95.20 cents US as the price of raw materials went up, but the New Zealand dollar was weaker versus the greenback, to 77.35 cents US, on concerns that a weakening economy there could lead to interest rate cuts.

The Icelandic krona was up again in relation to the euro and the US dollar after loans last week from three regional nations in an attempt to support the Icelandic currency after commercial banks there had trouble financing debt due to the credit crisis.

In late morning trade in New York, it took kr73.715 to buy a dollar and kr114.37 to buy a euro.

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