August 02, 2006	Wednesday	Rajab 6, 1427

LONDON, Aug 1: The euro gained against the dollar on Tuesday as investors judged that evidence of a pick-up in US inflationary pressures in June would not be enough to trigger a rate hike by the Federal Reserve next week.

The Federal Reserve's preferred measure of inflation, the core personal consumption expenditure price index, showed on Tuesday that consumer prices had risen 2.4 per cent in June, the fastest rate in more than 10 years.

The euro rose to $1.2816 in late European trading, compared with $1.2766 in New York on Monday.—AFP