LONDON, Aug 24: The European single currency jumped on Friday to a 10-day high above 1.36 dollars as many investors switched away from the US currency amid calmer global financial markets.

The euro surged as high as 1.3648 dollars -- a high point last seen on Aug 13, before settling in late deals at 1.3637. That compared with 1.3566 dollars in New York late on Thursday.

It also rose to 158.23 yen, against 154.76 on Thursday.

The dollar dropped to 115.99 yen, from 116.28 yen on Thursday.

The euro maintained its level despite better than expected US housing and durable goods orders.

Analysts said the data has yet to take into account the recent credit troubles, and so worse could come later this year as lending standards tighten and mortgage rates rise.

“It is important to remember that these numbers reflect pre-credit crunch conditions,” said Adam York at Wachovia.

Recent stock market turmoil saw the euro fall as low as 1.3360 dollars last week as the dollar drew strength from its status as a safe haven in times of global financial uncertainty.—AFP