October 07, 2007	Sunday	Ramazan 24, 1428

NEW YORK, Oct 6: A spirited rally by the dollar on the heels of a strong report on US job creation in September ran out of steam on Friday as the news was not enough to sustain investor confidence in the greenback.

The single European currency, the euro, fetched $1.4134 at 2100 GMT, little changed from $1.4136 late Thursday in New York.

But the euro in mid-afternoon fell to a two-week low of $1.4033 on news that the US economy last month created 110,000 jobs.

Significantly, the agency revised up its estimate for August to show a gain of 89,000 jobs, instead of a loss of 4,000.

The news suggested that the world’s biggest economy might not be heading for recession and that the US Federal Reserve would not now be in a rush to lower interest rates, which would make the dollar less attractive.

—AFP