Dollar moves within tight range in thin trading
In light holiday trading, the dollar dipped against the euro, but edged higher against the yen and pound.
By Agencies |
NEW YORK: In light holiday trading, the dollar dipped against the euro, but edged higher against the yen and pound on Friday.
The 15-nation euro rose to $1.4051 in morning trading Friday in New York from $1.3999 late Wednesday, while the British pound slipped to $1.4704 from $1.4752.
The dollar also rose to 90.61 Japanese yen on Friday from 90.39 yen late Wednesday ahead of the Christmas holiday.
With a lack of economic reports or government financing actions to direct trading, the greenback moved within tight ranges against the major currencies.
As expected, preliminary data showed a lackluster holiday shopping season compared with last year, but equities in the US traded higher on the heels of the Federal Reserve's agreement to make General Motors Corp's financing arm, GMAC Financial Services, eligible for bank rescue aid. The Dow Jones industrials were up about 60 points in morning trading.
In other New York trading, the buck fell to 1.0705 Swiss francs from 1.0740 francs late Wednesday, but gained to 1.2215 Canadian dollars from 1.2156.
The 15-nation euro rose to $1.4051 in morning trading Friday in New York from $1.3999 late Wednesday, while the British pound slipped to $1.4704 from $1.4752.
The dollar also rose to 90.61 Japanese yen on Friday from 90.39 yen late Wednesday ahead of the Christmas holiday.
With a lack of economic reports or government financing actions to direct trading, the greenback moved within tight ranges against the major currencies.
As expected, preliminary data showed a lackluster holiday shopping season compared with last year, but equities in the US traded higher on the heels of the Federal Reserve's agreement to make General Motors Corp's financing arm, GMAC Financial Services, eligible for bank rescue aid. The Dow Jones industrials were up about 60 points in morning trading.
In other New York trading, the buck fell to 1.0705 Swiss francs from 1.0740 francs late Wednesday, but gained to 1.2215 Canadian dollars from 1.2156.
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