September 08, 2007	Saturday	Sha'aban 25, 1428

LONDON, Sept 7: The European single currency jolted higher against the dollar on Friday after news that US employers shed 4,000 jobs in August.

The euro rose to $1.3769, from $1.3690 in London late on Thursday.

The dollar fell to 113.51 yen, from 115.33 yen late on Thursday.

The Bank of England also held borrowing costs steady at 5.75 per cent, saying it was “too soon” to judge the full economic

disruption problems caused by defaults in US subprime

mortgages.

But on Friday, the Swedish central bank Riksbank lifted its key interest rate by a quarter of a percentage point to 3.75 per cent to counter inflationary pressures.

The euro was changing hands at $1.3767, against $1.3690 late on Thursday, 156.26 yen (157.90), 0.6797 pounds (0.6763) and 1.6364 Swiss francs (1.6446). The dollar stood at 113.51 yen (115.33) and 1.1885 Swiss francs (1.2015). The pound was being traded at $2.0265 (2.0237).

On the London Bullion Market, the price of gold broke through $700 per ounce, reaching the highest level since May last year. It stood at $701, from $688.15 late on Thursday.—AFP