NEW YORK, Nov 17: The dollar was mixed on Friday against major currencies as investors digested the steep drop in US industrial production last month.

Activity was quiet as many market players remained reluctant to expand positions ahead of the weekend and a holiday-shortened week, dealers said. US financial markets will be closed Thursday due to the Thanksgiving holiday.

We don’t expect much action next week as many investors will remain absent on Friday for a long weekend, a New York-based currency dealer said.

The euro was worth $0.8843, versus 0.8817 late Thursday.

The dollar was worth 108.69 yen, versus 107.85 the previous day, 1.4655 Swiss francs compared to 1.4649 late Thursday.

The British pound bought $1.4269 Friday, down from 1.4319 the previous day.

US industrial output fell a deeper-than-expected 1.1 percent in October from the previous month the 13th consecutive monthly decline in industrial output and the biggest monthly decline since November 1990.

The euro recovered briefly against the dollar on news of German Chancellor Gerhard Schroeder’s win of a confidence vote in parliament over the proposed use of German troops in the war in Afghanistan, but later declined in scattered profit-taking.

The euro, which came under selling pressure earlier this week after Taliban forces were driven from the Afghan capital of Kabul, is expected to gain ground next week on expectations of improved economic prospects following steep falls in the wake of the September 11, attacks in the US, according to economists.—AFP