LONDON, 14 September 2006 — The dollar slipped slightly yesterday after US Treasury Secretary Henry Paulson issued a clear warning to China to allow the yuan to appreciate to better reflect its fundamentals.
The single European currency in late-day trade was at 1.2702 dollars after 1.2683 late Tuesday in New York. The dollar dropped to 117.50 yen from 117.94 yen late on Tuesday.
The euro was changing hands at 1.2702 dollars against 1.2683 dollars on Tuesday, 149.13 yen (149.63), 0.6767 pounds (0.6765) and 1.5873 Swiss francs (1.5865). The dollar stood at 117.50 yen (117.94) and 1.2499 Swiss francs (1.2504). On the London Bullion Market, the price of an ounce of gold dropped to $589.0 per ounce, from $590.70 late on Tuesday.
Meanwhile, European stock exchanges closed mixed yesterday.
The London FTSE 100 index of leading shares was down 0.06 percent at 5,892.20 points. In New York at 1535 GMT, the Dow Jones Industrial Average was up 0.10 percent at 11,509.06 a day after hitting its highest level since May. The NASDAQ composite increased 0.26 percent to 2,221.51.
Meanwhile, New York’s main contract, light sweet crude for delivery in October, climbed 43 cents to $64.19 per barrel in electronic deals in pit trading. In London, Brent North Sea crude for October delivery gained 11 cents to $63.10 per barrel in electronic trading.