Dollar steadies in Asia
Wednesday, 12 September 2007
TOKYO, Sept 11 (AFP): The dollar took a breather in Asian trade today as investors waited anxiously for an expected US interest rate cut next week amid growing fears of a US recession, dealers said.
The dollar changed hands at 113.75 yen in Tokyo afternoon trade, down slightly from 113.67 in New York late Monday.
The euro was little changed at 1.3795 dollars after 1.3797 while edging up to 157.01 yen from 156.87.
The dollar fell to a 15-year low Monday against a basket of major world currencies that include the euro, yen, British pound and Swiss franc.
Worries about the health of the world's largest economy continued to grow in the wake of the first drop in US payrolls in four years in August.
The dollar changed hands at 113.75 yen in Tokyo afternoon trade, down slightly from 113.67 in New York late Monday.
The euro was little changed at 1.3795 dollars after 1.3797 while edging up to 157.01 yen from 156.87.
The dollar fell to a 15-year low Monday against a basket of major world currencies that include the euro, yen, British pound and Swiss franc.
Worries about the health of the world's largest economy continued to grow in the wake of the first drop in US payrolls in four years in August.