LONDON, 15 October 2005 — The dollar wilted here against the euro yesterday as reports of tame US core inflation and disappointing consumer confidence data suggested that the US Federal Reserve might move less aggressively to raise interest rates than had been foreseen.
The single European currency in late-day trade was at 1.2075 dollars, up from 1.2020 late Thursday in New York. The dollar was meanwhile trading at 114.08 yen after 114.55. The euro was changing hands at 1.2075 dollars against 1.2020 late on Thursday in New York, 137.73 yen (137.52), 0.6829 pounds (0.6849) and 1.5509 Swiss francs (1.5501).
The dollar stood at 114.08 yen (114.55) and 1.2846 Swiss francs (1.2891).
The pound was being traded at 1.7680 dollars (1.7573), 201.67 yen (201.15) and 2.2710 Swiss francs (2.2644).
Meanwhile, European stock exchanges bolted ahead yesterday. The London FTSE 100 index rose 0.19 percent to close at 5,275 while in Paris the CAC 40 added 0.27 percent to end the week at 4,482.13. In Frankfurt the DAX took on 0.51 percent to finish at 4,975.56. The Euro Stoxx 50 index of leading euro zone shares gained 0.55 percent to reach 3,349.58.
In New York, the Dow Jones Industrial Average climbed 26.18 points (0.26 percent) to 10,242.77 while the tech-heavy NASDAQ composite added 5.74 points (0.28 percent) to 2,052.96 at 1530 GMT. The broad-market Standard and Poor’s 500 index drifted up 3.62 points (0.31 percent) to 1,180.46.
Asian stocks continued to trade lower yesterday.
Meanwhile, world oil prices fell heavily yesterday. New York’s main contract, light sweet crude for delivery in November, shed $1.38 to $61.70 per barrel in pit trading.
In London, the price of Brent North Sea crude for November delivery dropped 84 cents to $59.30 per barrel in electronic deals before expiry of the contract at yesterday’s close.