USD down versus euro, yen but gains on pound, Canadian dollar

The US dollar declined in relation to the euro and the yen on Friday on hopes that the US economy will get better while at the same time the euro managed to gain on the yen.

In mid-afternoon trade in New York, the dollar traded at $1.5561 to the euro and it took $105.4050 to buy a dollar while a euro worth ¥164.0205.

The pound weakened versus both the euro and the US dollar as UK consumer confidence declined to its lowest since 1990 on recession fears.

The UK currency traded at 78.56p to the euro while it took $1.9807 to buy a pound.

The Canadian dollar also declined in relation to its US counterpart after the Canadian economy contracted in the first quarter of the year, making an interest rate cut there a possibility.

At just past 2:30 pm in New York it took 99.42 cents Canadian to buy a US dollar.

Story link: USD down versus euro, yen but gains on pound, Canadian dollar