NEW YORK: The dollar rose against the euro yesterday as data indicating resilience in the US labor market allayed concerns about the pace of the economic recovery, with many analysts expecting the greenback to continue to gain.
The euro last traded at $1.3008, down 0.1 percent on the day, not far from a low of $ 1.2954 struck a day earlier after a German survey of business morale came in weaker than expected.
Also yesterday, a better-than-expected performance by the British economy saw the pound jump more than 1 percent to a two-month high against the dollar. Sterling also hit a three-week peak versus the euro.
Sterling rose 1.1 percent to $ 1.5458. The euro fell 1.1 percent to 0.8424 pence.
The dollar last traded at 99.48 yen, flat on the day, according to Reuters data.
UK sterling jumps to 2-month high vs dollar
