Source AP ©

Euro rises higher against the U.S. dollar in morning trading

The euro and the pound were higher against the U.S. dollar in early European trading Monday.

The 13-nation euro bought US$1.3534 in morning trading, compared with the US$1.3529 it bought in New York late Friday, more than 1 U.S. cent off its all-time high of US$1.3682 set April 27.

The British pound rose to US$1.9834 from US$$1.9824 on Friday.

The dollar rose to 120.22 Japanese yen from 120.13 yen late Friday after the country's finance ministry reported that the current account surplus jumped 36.9 percent from a year earlier in March, expanding for the third straight month.

The surplus in the current account, the broadest measure of Japan's trade with the rest of the world, stood at 3.317 trillion yen (US$27.61 billion; EURO 20.47 billion) in March before seasonal adjustment, the ministry said.