Dollar gains on renewed optimism about US economy
Sunday, 2 December 2007
NEW YORK, Dec 1 (AFP): The dollar firmed yesterday amid renewed optimism about the outlook for the US economy as prospects for a cut in interest rates appeared to rise.
The euro was quoted at 1.4632 dollars at 2200 GMT after 1.4742 late Thursday in New York.
The dollar was meanwhile trading at 111.21 yen, up from 109.88 Thursday.
In late New York trade, the dollar stood at 1.1318 Swiss francs from 1.1179.
The pound was at 2.0565 dollars from 2.0610.
The week's gains in equity prices helped boost the greenback, as did the publication of an index measuring manufacturing activity in the Chicago area.
The index in November rose to 52.9 points from 49.7 in October, with analysts having expected a reading of 50.5.
The index offset a lackluster report on US personal income and spending which showed both rising 0.2 per cent in October, below most forecasts.
The euro was quoted at 1.4632 dollars at 2200 GMT after 1.4742 late Thursday in New York.
The dollar was meanwhile trading at 111.21 yen, up from 109.88 Thursday.
In late New York trade, the dollar stood at 1.1318 Swiss francs from 1.1179.
The pound was at 2.0565 dollars from 2.0610.
The week's gains in equity prices helped boost the greenback, as did the publication of an index measuring manufacturing activity in the Chicago area.
The index in November rose to 52.9 points from 49.7 in October, with analysts having expected a reading of 50.5.
The index offset a lackluster report on US personal income and spending which showed both rising 0.2 per cent in October, below most forecasts.