Euro continues rise, up to $1.4368

BERLIN: The euro continued to climb against the dollar in pre-Christmas trading Thursday after U.S. data reinforced expectations that the country's economic recovery will be slow.

The 16-nation euro bought $1.4368 in morning European trading, up from $1.4337 in New York late Wednesday. The British pound rose to $1.6001 from $1.5953.

The dollar also dropped against the Japanese currency, falling to 91.19 yen from 91.68 yen.

U.S. data released Wednesday showed that sales of new homes dropped 11 percent in November from the previous month, to the lowest level since April.

The government said personal incomes and spending both rose in November, but economists cautioned that the gains weren't enough to help output grow strongly.