US dollar rises as euro, sterling dip, gold falls

NEW YORK, Feb 3 (Bernama) -- The US dollar strengthened in late trading on Thursday amid weakness in the euro and the British pound, reported Xinhua.

The dollar index, which measures the greenback against six major peers, increased 0.56 per cent to 101.7540.

In late New York trading, the euro was down to US$1.0908 from US$1.0983 in the previous session, and the British pound decreased to US$1.2231 from US$1.2376 in the previous session.

The US dollar bought 128.65 Japanese yen, lower than 128.81 Japanese yen of the previous session. The US dollar rose to 0.9137 Swiss francs from 0.9093 Swiss francs, and it increased to 1.3329 Canadian dollars from 1.3297 Canadian dollars. The US dollar climbed to 10.3746 Swedish Kronor from 10.3522 Swedish Kronor.

The above market reactions came as the European Central Bank and the Bank of England both raised rates by 50 basis points on Thursday, one day after the US Federal Reserve approved a quarter-point interest rate hike.

In Chicago, gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday as the US dollar strengthened.

The most active gold contract for April delivery fell US$12, or 0.62 per cent, to close at US$1,930.8 per ounce.

Gold prices tapped the highest level in more than nine months before pulled back.

Silver for March delivery rose 0.6 cents, or 0.03 per cent, to close at US$23.615 per ounce. Platinum for April delivery rose US$30.9, or 3.08 per cent, to close at US$1,032.6 per ounce.

-- BERNAMA