January 19, 2008	Saturday	Muharram 09, 1429

LONDON, Jan 18: The dollar firmed against the euro on Friday after US President George W. Bush announced a stimulus plan aimed at reviving the US economy and on news of an unexpected improvement in US consumer sentiment.

The single European currency in late-day deals was at $1.4619, down from $1.4640 late Thursday in New York.

The dollar was meanwhile at 106.78 yen against 106.59 yen on Thursday.

Elsewhere, the pound remained under pressure as weak British retail sales figures boosted market expectations that interest rates will fall in February.

Retail sales fell 0.4 per cent on the month in December, worse than analyst forecasts for no change.

“The pound looks increasingly weighed down by a growing assuredness — underpinned by a poor December retail sales report and ongoing concern for the banking sector — that the Bank of England will be obliged to meet the growing malaise with a cut in interest rates in February,” said Neil Mellor, currency analyst at Bank of New York.

In European trading on Friday, the euro changed hands at $1.4619 against $1.4640 late Thursday, at 156.25 yen (156.06), 0.7485 pounds (0.7425) and 1.6098 Swiss francs (1.6121).

The dollar stood at 106.78 yen (106.59) and 1.1007 Swiss francs (1.1010).

The pound was at 1.9522 dollars (1.9710).—AFP