US dollar little changed versus euro

US dollar little changed versus euro

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The US dollar was little changed after early gains versus the euro on Monday morning in New York after last week’s gains on the belief that the US Federal Reserve is almost done cutting interest rates for the time being.

The euro was helped by gains in German consumer confidence and bought $1.5650 at nearly 11 a.m. in New York, while it was slightly higher to ¥163.5319.

The yen traded about even versus the US dollar at ¥104.4900.

The British pound was up slightly versus the US dollar, to $1.9957 despite another report of declines in house prices, while it traded at 78.45p to the euro.

The Australian and New Zealand dollars, meanwhile, were both up versus the US dollar and the yen as commodities prices rose and on hopes that the worst of the credit crisis is over.

In late morning trade in New York the Aussie bought 93.88 cents US and ¥98.1004, while the kiwi was worth 78.68 cents US and ¥82.201.