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India On Media |
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| Money
News |
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| Dollar dips further against pound |
| The US dollar has fallen further against sterling and other major currencies as analysts await a slew of economic data due out later this week.
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| UNITED STATES OF AMERICA
, 3-January-2007
9:47:6 AM |
| The pound was worth $1.9736 in late New York trade on Tuesday - up from $1.9613 when last traded on Friday, as the dollar's recent weakness continued.
The dollar also slipped against the euro and the yen, although trading was thin on US markets.
Economic concerns saw the dollar fall 14% against the pound last year.
The minutes from the US Federal Reserve's last interest rate meeting, to be published on Wednesday, could provide some indication of whether an interest rate cut is in the offing.
Suggestions that the Fed may cut rates in response to a slowdown in the US economy, allied to the fact that rates are rising in the UK and Europe, has pushed the dollar lower in recent months.
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