September 9, 2003	Tuesday	Rajab 11, 1424

LONDON, Sept 8: The dollar was on a back foot against other major currencies on Monday, amid questions about the US economic recovery and the US currency’s recent strength.

The single European currency rose to $1.1123 from $1.1102 late on Friday in New York.

The dollar rose to 116.55 yen from 116.84.

Disappointing US employment data on Friday left investors with a bitter aftertaste on Monday.

The market will be bracing for fresh US economic data on Friday, with US August retail sales and consumer sentiment survey from the University of Michigan due to be published, said analyst said Paul Bednarczyk at trading consultancy 4cast.

The data is expected to restore expectations of a strong US recovery in the second half of the year after sentiment had taken a knock from the weak US labour market report. But the dollar still faces big questions, analysts said.

The euro was changing hands at $1.1123 from $1.1102 late on Friday in New York, 129.59 yen (129.77), 0.6989 pounds (0.6989) and 1.5391 Swiss francs (1.5349).

The dollar was being quoted at 116.55 yen (116.84) and 1.3845 Swiss francs (1.3823).

The pound was at $1.5858 (1.5882), 184.85 yen (185.47) and 2.1953 Swiss francs (2.1949).

On the London Bullion Market, the price of an ounce of gold fell to $374.65 from $375.80 on Friday afternoon.—AFP