Dollar trading steady again
April 21, 2005
The U.S. dollar was trading almost the same as its overnight close on Thursday. It was up 0.1 percent against the yen at 107.16, but it stayed the same in relation to the euro at $1.3096.
The dollar had been down on Wednesday after news of strong U.S. inflation figures.
The sterling was down in relation to the dollar, falling 0.4 percent from its overnight close to $1.9120. It also fell 0.4 percent against the euro, to 0.6845 on news that UK retail sales had fallen 0.1 percent instead of rising 0.4 percent, as had been expected.
Also having an effect on the sterling was the release on Wednesday of the Bank of England’s Monetary Policy Committee Meeting minutes from April, which showed the committee strongly in favor of keeping interest rates where they are.
The seven to two vote indicated that interest rates would probably remain the same in May as well. Meanwhile, the Swiss frank rose to $1.1740 in relation to the U.S. dollar on Thursday before settling to trade at $1.1775.