NEW YORK - The dollar got some relief from its recent battering Friday as turmoil on stock markets boosted a move to safety and data showed that Britain was still mired in a deep recession.

The euro was quoted at US$1.5007 at 2100 GMT after US$1.5027 Thursday

The dollar rose to 92.07 yen from 91.28 yen.

Michael Malpede at Easy Forex said the dollar got a lift from data showing a much stronger-than-expected 9.4 percent increase in existing US home sales, another positive sign for economic recovery even if the data was affected by a large tax credit due to expire.

"The dollar traded higher in reaction to the strong housing data as the trade debates how much of an impact the expected expiration of the tax credit for first home buyers impacts existing home sales," he said.

Neil Mellor at Bank of New York Mellon said some market participants were watching for signs of intervention to prop up the US dollar to avoid a big impact on trade flows and other imbalances.

He said he has noticed signs of impatience from authorities in Canada and Switzerland, for example.

"Whilst some central banks and governments continue to convey a degree of indifference to current extremes in the currency markets, there are those whose tolerance thresholds have clearly been reached," Mellor said.

The dollar also profited from data showing the British economy contracted 0.4 percent in the third quarter, confounding forecasts for a return to growth of 0.2 percent after five negative quarters.

"When the data showed that the economy actually contracted once again in the third quarter, jaws dropped," said Anthony Grech of IG Index.

ING Bank analyst James Knightley said that "more worryingly from sterling's perspective is the fact that the UK may be the only major economy to have contracted in the third quarter."

The pound fell to US$1.6310 from US$1.6619 Thursday.

The euro meanwhile hit a fresh 14-month high of US$1.5060 in Asian trade before falling back.

The euro has been supported by a return of risk appetite, favouring it over the safe-haven dollar and its near zero returns, and by a steady pickup in eurozone data.

On Friday, figures showed private sector business activity in the 16-nation eurozone grew in October at its fastest rate since December 2007.

The purchasing managers' index (PMI) for the 16 countries using the single currency, compiled by data and research group Markit, rose to 53.0 points from 51.1 points in September. In August, it ended 14 months of decline.

Chris Williamson, chief economist at Markit, said the results "indicate that the eurozone economy has entered the fourth quarter on a strong note, with growth accelerating in both manufacturing and services."

In late New York trade, the dollar stood at 1.0090 Swiss francs from 1.0040.