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.

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