March 20, 2007	Tuesday	Safar 30, 1428

LONDON, March 19: The euro and the dollar rose against the yen on Monday ahead of a Bank of Japan policy meeting that was expected to end with no change to the country’s ultra-low interest rates.

The euro dipped to $1.3296 in late European trading on Monday from $1.3309 in New York late on Friday. It was traded at 156.46 yen from 155.47 yen late on Friday.

The dollar climbed to 117.69 yen, from 116.70 yen late on Friday.

The Bank of Japan began a two-day policy board meeting on Monday but no change was expected after last month's quarter-point hike to 0.5 percent, which was the first increase since July.

The yen continued to edge lower across the board as a rebound in equities sparked renewed interest in the carry trade -- when money is borrowed in low-yielding currencies in order to invest in higher-yielding assets elsewhere.

On the London Bullion Market, the price of gold rose to $655 per ounce, from $653.20 late on Friday.—AFP