Sterling, euro in new highs versus greenback

Sterling, euro in new highs versus greenback

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The euro and sterling both hit new record highs in relation to the US dollar in morning trade in London on Tuesday, while the yen also gained on the greenback.

The euro was as high as $1.3852 versus the US currency before it dropped back to $1.3830, still a gain of 0.2 percent on the dollar.

Sterling hit another 26-year high at $2.0665 before easing to $2.0620, still 0.2 percent up on the dollar, and was also 0.2 percent higher to £0.6695 versus the euro.

The yen was 0.4 percent higher to ¥120.60 against the US currency, while it added 0.2 percent to ¥166.90 versus the euro.

Other currencies gaining on the greenback included the New Zealand dollar, which added 0.1 percent to $0.8065, and the Canadian dollar, which added 0.8 percent to C$1.0380 to reach a 30-year high against the US dollar.

The New Zealand dollar is being supported by speculation that the Reserve Bank of Australia will raise interest rates when it meets on Thursday, while the Canadian dollar was helped by retail sales figures that were better than had been anticipated.