January 04, 2008	Friday	Zilhaj 24, 1428

LONDON, Jan 3: The dollar wobbled against euro here on Thursday on mixed data on the health of the US economy, while the single currency jumped to a record against the pound.

A surge in oil prices in New York on Thursday to more than 100 dollars a barrel could also spell trouble for the oil-dependent US economy and further depress the dollar.

The euro in late-deals was at 1.4734 dollars after 1.4721 late Wednesday in New York. The dollar was trading at 109.66 yen, up from 109.59 on Wednesday.

Against the pound the single currency jumped at one point to 0.7481 pounds, the highest reading since the creation of the euro in 1999 as the market bet on further rate cutting by the Bank of England.

The euro later traded at 0.7470 pounds.

“The US dollar decline accelerated on growing fears that the economy could slip into recession and on growing views that the Federal Reserve could continue to reduce interest rates to stave off the economic fallout from a global credit crisis,” said Standard Bank analyst Teo Kah Oon.

The dollar on Thursday suffered from a report showing that the US private sector created 40,000 jobs in December after 173,000 in November. Market analysts had forecast a figure of 45,000.

The US government on Friday is to disclose the number of jobs, both public and private, created in December, with analysts looking for a reading of 70,000 after 94,000 in November.

Orders rose 1.5 per cent from October, eclipsing predictions of 1.0 per cent.

Industrial orders were up 0.7 per cent in October.

In European trading on Thursday, the euro changed hands at 1.4734 dollars, against 1.4721 late Wednesday, at 161.47 yen (161.37), 0.7470 pounds (0.7428) and 1.6411 Swiss francs (1.6468).

The dollar stood at 109.66 yen (109.59) and 1.1140 Swiss francs (1.1185).—AFP