Dollar Sinks in Europe

03/11/2008

LONDON (AP) - The U.S. dollar was mostly lower against other major currencies in European trading Tuesday morning as the euro notched another record high. Gold rose.

The euro traded at $1.5465, up from $1.5352 late Monday in New York.

The euro surged following a report by the ZEW institute said that its monthly confidence index - a closely watched indicator for Europe's biggest economy rose in February, instead of declining as analysts expected.

Other dollar rates:

_102.06 Japanese yen, up from 102.04

_1.0165 Swiss francs, down from 1.0185

_0.9925 Canadian dollars, down from 1.0024

The British pound was quoted at $2.0176, up from $2.0101.

Gold traded in London at $980.50 per troy ounce, up from $967.95 late Monday.

In Zurich, gold traded at $981.00 bid per troy ounce, up from $965.30.

Silver opened in London at $19.62, up from $19.56.