European sessiuon

In early European trading the US currency hit new multi-month highs against the euro and the franc as disappointing economic reports from Europe boosted demand for the safe-haven greenback. At the same time, the dollar rose from a 2-day low against the pound, but it slid from an 8-day high against the yen.

The single unit showed weakness in early European trading Friday, slumping to a 2-week low against the pound and a 1-week low against the franc shortly after a report showed that Germany’s economic growth unexpectedly stagnated in the fourth quarter of 2009.