Dollar falls, gold rises in Europe

LONDON (AP) -- The U.S. dollar hit a record low against the euro Wednesday and was down against other key currencies in European trading. Gold rose.

The euro traded at $1.5955, up from $1.5790 late Tuesday in New York. The euro moved as high as $1.5978, beating the previous high of $1.5912 set last Thursday. Later, in midday trading in New York, the euro fetched $1.5961.

Other dollar rates in Europe, compared with late Tuesday, included 101.21 Japanese yen, down from 102.04; 0.9976 Swiss francs, down from 1.0056; and 1.0016 Canadian dollars, down from 1.0197.

The British pound was quoted at $1.9752, up from $1.9619.

In midday New York trading, the dollar bought 101.62 yen and 0.9987 Swiss francs, while the pound was worth $1.9732.

Gold traded in London at $947.80 per troy ounce, up from $927.10 late Tuesday. In Zurich, gold traded at $945.00 bid per troy ounce, up from $926.35.

Silver traded in London at $18.41, up from $17.73.

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