February 19, 2008	Tuesday	Safar 11, 1429

LONDON, Feb 18: The dollar was slightly firmer on Monday in quiet trade, recovering some of the ground lost last week after a series of weak US economic data, dealers said.

They said that with US markets closed for a public holiday on Monday, there was little incentive to take aggressive positions, especially with more US figures to come as players try to get a line on the economic outlook.

The dollar fell last week after US Federal Reserve chairman Ben Bernanke kept the door open for further cuts in interest rates due to continuing signs of trouble in the US economy.

It recovered some of these losses but dealers said they were doubtful whether the US unit would be able to hold onto those gains amid persistent concerns the US economy is at risk of recession.

In European trade on Monday, the euro was at $1.4654, up from early lows of $1.4636.

Against the Japanese currency, the dollar rose to 108.13 yen from 107.72.

On the London Bullion Market, the price of gold dropped to $903.25 an ounce from $912.50 late on Friday.—AFP