LONDON, 29 January 2004 — The dollar firmed in late trade yesterday ahead of a US Federal Reserve decision on interest rates, although trading overall lacked direction in the run-up to a G-7 finance ministers meeting.
The single European currency traded at 1.2617 dollars from 1.2641 late on Tuesday in New York. The dollar stood at 105.54 yen against 105.56. The recently embattled dollar has seen its fortunes see-saw ahead of a meeting of finance ministers from the Group of Seven (G-7) industrialized nations in Florida early next month.
The euro was changing hands at $1.2617 from $1.2641 late on Tuesday in New York, 133.16 yen (133.43), 0.6873 pounds (0.6916) and 1.5690 Swiss francs (1.5667). The dollar stood at 105.54 yen (105.56) and 1.2434 Swiss francs (1.2394).
On the London Bullion Market, the price of an ounce of gold stood at $411 against $405.70 late on Tuesday.
Meanwhile, European stock markets climbed yesterday, with the London FTSE 100 index up 0.48 percent to close at 4,468.3 points. In Frankfurt, the DAX closed 0.38 percent higher at 4,150.24 points, while in Paris the CAC 40 rose 0.25 percent to 3,706.79 points
The Dow Jones Industrial Average rose 18 points, or 0.17 percent, to 10,628. The Standard & Poor’s 500 Index added 3 points, or 0.26 percent, to 1,147. The technology-laced NASDAQ Composite Index gained 1 points, or 0.05 percent, to 2,117.
Asian stock markets were dragged down yesterday. The Tokyo Stock Exchange’s Nikkei-225 index lost 75.56 points at 10,852.47. In Hong Kong, the Hang Seng Index crashed through the 13,500 resistance level to close down 330.10 points.