Dollar steady against euro

Published November 20, 2007

LONDON, Nov 19: The dollar was stable against the euro here on Monday but was under pressure from the impact of disappointing US economic data released last week and an agreement by Opec to consider pricing oil in currencies other than the greenback.

The single European currency in late-day trade was at 1.4661 dollars against 1.4659 late Friday in new York.

The dollar was meanwhile trading at 110.08 yen against 111.07 on Friday.

The US unit was weighed down by fears of a contraction in US growth, which have raised expectations the Federal Reserve will cut interest rates again, possibly as early as December.

—AFP

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