Euro Higher At $1.4982 In European Morning Trade

FRANKFURT (AP) — The euro was higher against the U.S. dollar Monday after the euro zone showed more evidence of emerging from recession last week, pushing investors to other currencies besides the greenback.

The 16-nation euro bought $1.4982 in European morning trade, up from the $1.4893 late Friday in New York.

The British pound was also higher at $1.6722 from $1.6672, while the dollar edged lower to 89.57 Japanese yen from 89.63 late Friday in New York.

The economic recovery in Germany, Europe's largest economy, gathered pace in the third quarter, as growth accelerated to 0.7 percent on a rise in exports, official data showed Friday.

The quarter-on-quarter expansion in the July-September period followed gross domestic product growth of 0.4 percent in the second quarter, when Germany emerged from a deep recession.

Also on Friday, other data showed France's economy continued its slow emergence from recession in the third quarter, mainly helped by a rise in exports, according to a preliminary estimate by the national statistics agency.