US dollar drops versus euro, pound

The US dollar declined in relation to the euro and the pound Thursday after the Gross Domestic Product there added only 1.9 percent in the second quarter and as first-time jobless claims rose last week to their highest level in over 5 years.

At around 10:30 a.m. in New York the dollar traded at $1.5631 to the euro while it took $1.9852 to buy a pound.

The dollar was also lower against the yen at ¥107.9150, while the euro gained on the Japanese currency to ¥168.6873.

The pound declined on a drop in consumer confidence and on a report from Nationwide Building Society that home values dropped in the UK for the ninth consecutive month, while the euro was helped by new data showing Eurozone inflation at 4.1 percent in July.

In morning trade in New York, the pound had dropped to 78.74p to the euro.

The Canadian dollar weakened versus the US dollar after Canada’s GDP dropped by 0.1 percent on declines in car manufacturing and natural gas production, to trade at C$1.0247 to the greenback.

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