LONDON, 10 November 2005 — The dollar crept higher against the euro here yesterday in narrow trading as dealers awaited a report Thursday on the US trade deficit in September. The single European currency in late-day trade was at 1.1748 dollars after 1.1780 late Tuesday in New York. The dollar was meanwhile trading at 117.56 yen against 117.24 on Tuesday.
The euro slumped to a two-year low of 1.1711 dollars on Tuesday, marking the culmination of a selling bout that began last week after European Central Bank president Jean-Claude Trichet disappointed the market by not providing confirmation the bank will hike rates in December. Civil unrest in France also helped undermine sentiment.
The euro was changing hands at 1.1748 dollars against 1.1780 late on Tuesday in New York, 138.16 yen (138.13), 0.6751 pounds (0.6753) and 1.5413 Swiss francs (1.5438). The dollar stood at 117.56 yen (117.24) and 1.3119 Swiss francs (1.3103). On the London Bullion Market, the price of an ounce of gold rose to $462.55 from $456.50 late on Tuesday.
Meanwhile, European stock exchanges turned in a mixed performance yesterday, with the London FTSE 100 index shedding 0.39 percent to close at 5,439.8. In Paris the CAC 40 fell 0.52 percent to 4,480.23 while in Frankfurt the DAX climbed 0.05 percent to reach 5,011.38.
In New York, in late morning trade, the Dow Jones Industrial Average was up 3.29 points (0.03 percent) at 10,543.01, but the tech-heavy NASDAQ composite was 1.47 points (0.07 percent) lower at 2,170.60.
Asian stocks closed mixed yesterday.