April 08, 2008	Tuesday	Rabi-us-Sani 1, 1429

LONDON, April 7: The dollar firmed against the euro Monday as traders awaited publication of minutes from the last meeting of the US Federal Reserve to see if further cuts in US interest rates could be expected.

They said dollar sentiment was boosted by confidence that global banks will be able to weather current jitters on world markets and by reports that European finance ministers are to press counterparts in the Group of Seven on steps to confront a credit squeeze.

The single European currency in late-day deals was at 1.5712 dollars, down from 1.5736 late Friday in New York.

The dollar was at 102.65 yen, up from 101.45 on Friday.

Despite the dollar’s modest gains Monday, the speculation is that the US Federal Reserve will lower its benchmark interest rate at a meeting later in April, thereby making the dollar less attractive to investors.

In London on Monday, the euro changed hands at 1.5712 dollars against 1.5736 late on Friday, at 161.29 yen (159.66), 0.7914 pounds (0.7893) and 1.5944 Swiss francs (1.5831).

The dollar stood at 102.65 yen (101.45) and 1.0148 Swiss francs (1.0058). The pound was at 1.9853 dollars (1.9930).

On the London Bullion Market, the price of gold advanced to 926.50 dollars per ounce from 905.50 dollars late on Friday.

—AFP