Dollar falls against euro

Published September 9, 2003

LONDON, Sept 8: The dollar was on a back foot against other major currencies on Monday, amid questions about the US economic recovery and the US currency’s recent strength.

The single European currency rose to $1.1123 from $1.1102 late on Friday in New York.

The dollar rose to 116.55 yen from 116.84.

Disappointing US employment data on Friday left investors with a bitter aftertaste on Monday.

The market will be bracing for fresh US economic data on Friday, with US August retail sales and consumer sentiment survey from the University of Michigan due to be published, said analyst said Paul Bednarczyk at trading consultancy 4cast.

The data is expected to restore expectations of a strong US recovery in the second half of the year after sentiment had taken a knock from the weak US labour market report. But the dollar still faces big questions, analysts said.

The euro was changing hands at $1.1123 from $1.1102 late on Friday in New York, 129.59 yen (129.77), 0.6989 pounds (0.6989) and 1.5391 Swiss francs (1.5349).

The dollar was being quoted at 116.55 yen (116.84) and 1.3845 Swiss francs (1.3823).

The pound was at $1.5858 (1.5882), 184.85 yen (185.47) and 2.1953 Swiss francs (2.1949).

On the London Bullion Market, the price of an ounce of gold fell to $374.65 from $375.80 on Friday afternoon.—AFP

Opinion

Editorial

Doctor attacked
09 Jun, 2026

Doctor attacked

AN act of reprehensible violence has shaken the medical community. On Saturday, an employee of the Provincial Civil...
AJK flare-up
Updated 09 Jun, 2026

AJK flare-up

The situation started deteriorating after a trader affiliated with the JAAC was reportedly shot in an altercation with law-enforcers.
Fault lines
09 Jun, 2026

Fault lines

THE April 8 ceasefire that halted hostilities between Israel and Iran has encountered its most serious test yet....
Soft on traders
08 Jun, 2026

Soft on traders

THE Fixed Tax Asaan Scheme for traders with an annual turnover of up to Rs200m has been designed as a ‘pragmatic...
Ceasefire in name
Updated 08 Jun, 2026

Ceasefire in name

Both sides accuse the other of violating the truce that was supposed to halt the conflict in April, yet neither appears willing to abandon negotiations altogether.
Damaged childhoods
08 Jun, 2026

Damaged childhoods

CHILD abuse is so prevalent that the UN ranked Pakistan as the least safe country for children. Even so, more than...