LONDON, 26 April 2005 — The dollar fell against the yen here yesterday on speculation that China might revalue its currency, the yuan, sooner rather than later. But the greenback gained on the euro in response to fresh concerns about the health of the euro zone economy.
The dollar in late-day trade was at 105.74 yen against 106 late Friday in New York.
The single European currency was meanwhile trading at 1.2980 dollars, down from 1.3062 on Friday.
Meanwhile, European stock exchanges, after losing ground, rebounded yesterday and closed higher. The London FTSE 100 index gained 0.32 percent to finish at 4,864.9 while in Paris the CAC 40 added 0.32 percent to end the session at 3,993.07.
In New York, the Dow Jones Industrial Average climbed 77.37 points (0.76 percent) to 10,235.08 and the NASDAQ composite advanced 15.18 points (0.79 percent) to 1,947.37 at 1525 GMT. The Standard and Poor’s 500 broad-market index increased 8.83 points (0.77 percent) to 1,160.95.