Dollar pauses close to record low against euro
Wednesday, 26 September 2007
TOKYO, Sept 25 (AFP): The dollar hovered just above its record low against the euro in Asian trade today as the market looked for clues on whether US interest rates could fall further, dealers said.
They said the Japanese ruling party's choice of moderate veteran Yasuo Fukuda as prime minister had little impact on the yen. His selection had been widely expected.
The dollar slipped to 114.70 yen in Tokyo afternoon trade from 114.85 in New York late Monday.
The euro was steady at 1.4080 dollars after 1.4084 late on Monday, when it had earlier hit a record high of 1.4130.
The single European currency eased to 161.50 yen from 161.77.
Markets were waiting for US economic indicators due later Tuesday, including existing home sales in August-when rising mortgage defaults were roiling financial markets-and September consumer confidence.
They said the Japanese ruling party's choice of moderate veteran Yasuo Fukuda as prime minister had little impact on the yen. His selection had been widely expected.
The dollar slipped to 114.70 yen in Tokyo afternoon trade from 114.85 in New York late Monday.
The euro was steady at 1.4080 dollars after 1.4084 late on Monday, when it had earlier hit a record high of 1.4130.
The single European currency eased to 161.50 yen from 161.77.
Markets were waiting for US economic indicators due later Tuesday, including existing home sales in August-when rising mortgage defaults were roiling financial markets-and September consumer confidence.