Euro up against dollar to $1.3972

AP News
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Posted: Oct 21, 2010 4:46 AM
Euro up against dollar to $1.3972

The euro gained on the dollar ahead of a government forecast on growth in the German economy, Europe's largest, that has emerged from the global economic downturn largely unscathed.

The 16-nation euro bought $1.3972 in early Thursday trading, up from $1.3961 overnight in New York.

The British pound slid to $1.5737 from $1.5855, a day after Britain's government announced a raft spending cuts aimed at clearing record debt accumulated during the crisis.

The dollar remained at record lows against the Japanese currency, buying 80.99 yen early Thursday, compared with 80.85 late Friday.