Dollar gains against most major currencies; euro recovers (MarketWatch) (10-03-2010)

LONDON (MarketWatch) -- The dollar gained versus other major currencies Wednesday, but the euro managed to erase an earlier loss versus the greenback after stronger-than-expected factory output data from France and Italy.

The euro traded at $1.3616, up from $1.3598 in late North American trading Tuesday. The single currency had been under pressure in early activity, knocked down in part by weaker-than-expected German trade data.

The British pound, meanwhile, skidded to $1.4927, from $1.4991. The U.S. dollar was worth 90.32 yen, compared with 89.98 yen late Tuesday. The Australian dollar rose 0.3% against its U.S. counterpart, to 91.57 U.S. cents.

The Aussie "outperformed, with better than expected Chinese trade data underpinning global recovery hopes in the region," said analysts at Action Economics.

Source: MarketWatch