Dollar Gains After US Data

LONDON, 16 September 2006 — The dollar edged higher yesterday to close the week on a positive note after a series of mixed US data releases, which included tame inflation, lower industrial production and a pickup in consumer sentiment. The euro eased to 1.2643 dollars in early European trading from 1.2722 dollars late in New York on Thursday. This marked its lowest level in seven weeks. The dollar stood at 117.70 yen, from 117.64 yen late on Thursday. The euro was changing hands at 1.2643 dollars against 1.2722 dollars on Thursday, 148.78 yen (149.66), 0.6735 pounds (0.6743) and 1.5917 Swiss francs (1.5925).

The dollar stood at 117.70 yen (117.64) and 1.2589 Swiss francs (1.2516). The pound was being traded at 1.8774 dollars (1.8863).

On the London Bullion Market, the price of an ounce of gold fell to $573.60 per ounce, from $584.40 late on Thursday.

Meanwhile, European stock markets closed mostly higher yesterday. In London the FTSE 100 index closed barely changed, down 0.20 points at 5,877.0, the CAC 40 in Paris closed up 0.41 percent at 5,144.88 points while in Frankfurt the DAX gained 0.52 percent to finish at 5,937.87 points.