Dollar falls Sharply vs euro

Published September 13, 2008

LONDON, Sept 12: The dollar wilted against the euro on Friday on an unexpected fall in US retail sales in anxious trading reflecting market uncertainty surrounding the fate of ailing US investment giant Lehman Brothers.

The single European currency in late trade was at $1.4177, up sharply from $1.3969 late Thursday in New York.

But the dollar managed to edge higher against the yen, at 107.37 yen against 107.05 on Thursday after the Japanese economy faltered badly in the three months to June.

Against the euro, the dollar was weighed down by news that US retail sales fell 0.3 per cent in August from July as a government fiscal stimulus faded.

In London trading late Friday, the euro changed hands at $1.4177 against $1.3969 late Thursday, at 151.13 yen (149.55), 0.7944 pounds (0.7956) and 1.6048 Swiss francs (1.5914).

The dollar stood at 107.37 yen (107.05) and 1.1323 Swiss francs (1.1391). The pound was at $1.7846 ($1.7552).

On the London Bullion, the price of gold climbed to $750.25 per ounce at the fixing from $740.75 late on Thursday.—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...