USD gains on euro, yen, Swiss franc

USD gains on euro, yen, Swiss franc

Story link: USD gains on euro, yen, Swiss franc

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The US dollar made gains versus the euro, the yen, and the Swiss franc on Tuesday after UBS (NYSE: UBS; SWX: UBSN; TYO: 8657) and Lehman Brothers (NYSE: LEH) said they would raise nearly $20 billion between them in new capital.

The dollar was helped versus the euro on reports that US manufacturing contracted less than expected in the most recent survey while retail sales in Germany declined in February.

In late morning trade the greenback traded at $1.5605 to the euro, while it took SFr1.0105 or ¥101.6350 to buy a dollar.

The pound was higher versus the euro on hopes that large banks will survive the credit crisis and on a new report showing that factory prices were up in March to their highest level in 9 years.

The UK currency was trading at 78.96p to the euro and at 50.60p to the US dollar at late morning in New York.

The yen dropped at the beginning of Japan’s fiscal year on a Tankan survey that showed manufacturer confidence there to be in decline.

Besides declines versus the US dollar, the yen traded at ¥200.8621 to the pound and at ¥158.6064 to the euro.

The Australian dollar was down versus the US dollar after the Reserve Bank of Australia held interest rates at 7.25 percent, citing less pressure toward inflation.

At late morning in New York, the aussie traded at A$1.1039 to the greenback.