Dollar Gains To Pound, Euro Ahead Of Housing Starts Data
Friday, February 16, 2007 7:35:26 AM - The dollar extended recent gains against the pound and was up slightly to the euro Friday morning in New York, with investors awaiting the release of January PPI data and housing starts figures.
The dollar saw choppy trading to the yen Friday, falling to a low of 119.18 before bouncing back to overnight levels around 119.40. The yen gained to other majors Thursday on the heels of better than expected fourth quarter growth data.
The dollar was up slightly to euro Friday in New York. After climbing to a morning high of 1.3108, the dollar pulled back somewhat to trade at 1.3122 at 7:30 am Eastern. Trading took place amid the release of German consumer price data in the small hours of Friday morning.
The dollar rose sharply to the pound in early trading Friday in New York, reaching a high of 1.9474 before leveling off. The dollar traded at 1.9494 as of 7:30 am Eastern Time. The dollar has seen strength against the sterling since the release of disappointing UK retail sales data Thursday morning.