LONDON — The U.S. dollar fell in Europe today against most key currencies amid signs of a slowdown in U.S. economic growth.
Gold prices, propelled by the weak dollar and fears of rising inflation rates, jumped as much as $8 an ounce. Silver surged above $9 an ounce.
Foreign exchange dealers said the dollar was pushed lower by worse-than-expected industrial production figures, which fell 0.4% in April, the sharpest drop in 13 months. The markets had been anticipating a 0.1% decline.
The dollar recovered slightly when U.S. banks announced later they were raising their prime interest rates.
In Tokyo, the dollar fell to a closing 139.37 Japanese yen from 140.05 yen at Thursday's close, but was higher than 139.08 yen at last Friday's close. Later today, in London, it slipped to 139.00 yen.