FX round-up: Dollar falls against euro

Date: Monday 01 Mar 2010

The dollar slipped back in afternoon trade on Friday as investors mulled a surprise fall in US existing home sales against unexpectedly robust GDP growth.

US growth increased to 5.9% against expectations of 5.7% but lower than expected Chicago PMI employment data and gloomy house data for January dented interest in the dollar.

The dollar index, which measures the US currency against a basket of six others, fell to 80.3799 from 80.744 on Thursday. The euro rose to $1.3618 from $1.3554 on Thursday.

The euro was buoyed by speculation that a German bank was considering a plan to help Greece out of its debt problems.

The dollar also fell against the yen to 88.90 yen from 89.19 yen the previous session. Meanwhile an upward revision to UK economic growth did little to boost the pound on Friday.

Sterling skidded to a 9-month low against the dollar to $1.5152. The pound was hurt earlier in the week after the Bank of England said it would expand its quantitative easing programme if needed.

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