The US dollar traded barely mixed on Friday against other major currencies as the euro backed down from a near all-time high and the British pound held above the US$2 mark for a fourth day.
The euro hovered at levels last seen more than two years ago before dipping against the dollar. European finance ministers said currency's climb should not cause concern as the continent begins to see an economic turnaround.
The euro rose to US$1.3637 before falling back to US$1.3601 in late New York trading. It reached an all-time high of US$1.3667 in December 2004.
The greenback rose marginally against the New Taiwan dollar on Friday, gaining NT$0.001 to close at NT$33.137. A total of US$939 million changed hands during the day's trading.
The US currency opened at the day's low of NT$33.135 and hit a high of NT$33.174.
Meanwhile, the British pound shrugged off a report that showed retail sales rising less than expected, and climbed as high as US$2.0068 before settling to US$2.0036 -- up from US$2.0019 late on Thursday in New York.
The pound climbed to a 26-year high on Wednesday and earlier this week breached the US$2 level for the first time since Sept. 16, 1992, when Britain was kicked out of the European Exchange Rate mechanism, which pegged the pound to other EU member currencies.
The spike came after a report showed UK wages rose at their fastest rate in almost three years from December to February.
The euro has been boosted by historic levels of healthier European growth, continuing interest rate increases by the European Central Bank and concern over the strength of the US economy. That means a price shock for some visitors to the continent.
The euro zone, a bloc of 317 million residents that accounts for more than 15 percent of the world's GDP, saw its best economic performance in six years last year, with growth of 2.7 percent. Expansion is expected to continue through this year, with predicted growth of 2.4 percent.
The European Central Bank is expected to raise interest rates again to 4 percent by June, as is the Bank of England, now at 5.25 percent, mirroring the US interest rate.
Higher interest rates, used to combat inflation, can bolster a currency by raising returns on certain types of investments.
In other trading, the dollar rose against the Japanese currency, reaching ¥118.74 from ¥118.37 late on Thursday. The US currency bought 1.2072 Swiss francs, up from SF1.2054, and C$1.1218, down from C$1.1286.
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