Euro Edges up Against Dollar in Morning Trading (AP) (31-03-2008)

BERLIN (AP) -- The European common currency was edging up against the dollar, trading at US$1.5781 in Europe on Monday morning -- up from the $1.5760 it was worth on Friday night in New York.

Meanwhile, the pound fell back to 1.9858 from $1.9916 late Friday in New York. The Nationwide bank reported Friday that house prices in Britain fell 0.6 percent in March -the fifth straight monthly decline- and said the annual growth rate in house prices was at its lowest in 12 years.

That underlined evidence of an economic slowdown in Britain, and led economists to predict the Bank of England will trim its base interest rate next month from the current 5.25 percent.

In other trading, the U.S. currency dropped to 99.385 Japanese yen from 100.00 yen on Friday night.

 Source: AP