LONDON, 30 September 2004 — The euro slipped against the dollar in late European trade yesterday after an upward revision of US second-quarter economic growth and a weak IMF outlook on the euro zone.
The single European currency fell to 1.2302 dollars from 1.2321 late on Tuesday in New York. The dollar was traded at 110.86 yen from 111.39 on Tuesday.
The euro was changing hands at 1.2302 dollars against 1.2321 late Tuesday in New York, 136.50 yen (137.28), 0.6845 pounds (0.6795) and 1.5529 Swiss francs, unchanged from Tuesday. The dollar stood at 110.86 yen (111.39) and 1.2624 Swiss francs (1.2594). The pound was at 1.7976 dollars (1.8126), 199.40 yen (201.88) and 2.2687 Swiss francs (2.2823).
Asian share markets closed mostly lower for a third straight day as near $50 a barrel oil prices continued to hurt sentiment. However, the losses were more muted than in previous days with some investors taking the opportunity to bargain hunt in the wake of recent sell-offs.
Japan’s benchmark Nikkei 225 index slid a modest 0.2 percent, pressured by the oil jitters and with many investors sidelined ahead of key economic data set for release Friday. Bargain hunting capped the downside.