June 14, 2008	Saturday	Jamadi-us-Sani 09, 1429

LONDON, June 13: The dollar rose against the euro on Friday after higher-than-expected US inflation data, with the European single currency also seen as affected by Ireland’s rejection of the Lisbon Treaty.

The single European currency in late-day trade was at $1.5370, down from $1.5435 late Thursday.

The dollar was meanwhile trading at 107.94 yen after 107.91 on Thursday.

The dollar’s gains were also aided by the euro’s woes. The single currency was under pressure after the Irish rejected the Treaty of Lisbon in a referendum.

The Irish rejection threatens to scupper the European Union’s political integration process, as all 27 member states need to ratify the treaty for it to take effect.

And a political crisis in the eurozone could also spell trouble for its economic policy.

Elsewhere the yen was lower following the Bank of Japan’s decision to leave interest rates unchanged at 0.5 percent.

While Bank of Japan governor Masaaki Shirakawa noted that rising inflation was posing a threat to the global economy, he said the bank remained concerned about downside growth risks to the economy.—AFP