LONDON, 22 March 2007 — The dollar rose slightly against the euro amid cautious trade yesterday ahead of an interest rate call by the US Federal Reserve.

The euro eased to 1.3301 dollars in late European trade, from 1.3316 dollars late in New York on Tuesday. The dollar firmed to 117.83 yen from 117.26 yen late on Tuesday. The euro was changing hands at 1.3301 dollars, against 1.3316 dollars on Tuesday, 156.74 yen (156.17), 0.6787 pounds (0.6789) and 1.6173 Swiss francs (1.6138). The dollar stood at 117.83 yen (117.26) and 1.2162 Swiss francs (1.2118).

On the London Bullion Market, the price of gold was steady at $659 per ounce, from $659 late on Tuesday.

Meanwhile, European stock exchanges closed broadly higher yesterday, with the London FTSE 100 index rising 0.59 percent to close at 6,256.80 points.

In Frankfurt the DAX added 0.18 percent to end the day at 6,712.06 but in Paris the CAC 40 index fell by 0.02 percent to 5,502.18.

In New York, the Dow Jones Industrial Average was down a slight 16.18 points (0.13 percent) at 12,271.92 at 1606 GMT. The NASDAQ composite had gained 0.81 points (0.03 percent) to 2,409.02 while the broad-market Standard and Poor’s 500 index increased 0.58 points (0.04 percent) to 1,411.52. All the indexes were displaying scant movement ahead of the rate announcement.

Asian stocks closed mixed yesterday.

World oil prices rose slightly yesterday as traders absorbed news that US stockpiles of gasoline or petrol fell more heavily than expected last week. In London, the price of Brent North Sea crude for May delivery gained 50 cents to $60.70 per barrel during electronic trading.

New York’s main oil futures contract, light sweet crude for delivery in May, added 20 cents to $59.45 per barrel in electronic deals before the official opening of the US market. The US Department of Energy revealed yesterday that American gasoline stocks sank by 3.4 million barrels to 210.5 million in the week to March 16.

“Gasoline was already priced in,” said Calyon analyst Mike Wittner, in reference to the fact that oil prices have traded higher this week on expectations of a fall in US stockpiles.

US crude inventories meanwhile rose by four million barrels to 329.3 million.