July 27, 2007	Friday	Rajab 11, 1428

LONDON, July 26: The euro fell to a two-week low against the dollar on Thursday before recovering somewhat following a report on sales of US durable goods that disappointed analysts.

In late European trading, the euro stood at $1.3727, against $1.3721 late on Wednesday in New York. At one point however the single European currency fell to $1.3693, its lowest reading since July 10.

The dollar meanwhile changed hands for 119.19 yen, down from 120.47 on Wednesday.

Analysts said the earlier gain in the dollar reflected technical factors, with traders adjusting their positions after a recent record-setting run for the euro.

In addition, fears that the downturn in the US housing sector, notably in the high-risk mortgage segment, might spread to markets outside the United States was driving investors to what are seen as safe-haven US assets.

The euro was changing hands at $1.3727, against $1.3721 dollars late on Wednesday, 163.56 yen (165.30), 0.6706 pounds (0.6680) and 1.6569 Swiss francs (1.6647).

The dollar stood at 119.19 yen (120.47) and 1.2075 Swiss francs (1.2132).

The pound was being traded at $2.0477 (2.0535).

On the London Bullion Market, the price of gold edged down to $670 per ounce from $674.75 late on Wednesday. —AFP