LONDON, 13 January 2005 — The dollar fell sharply against major currencies yesterday following the surprise announcement of another record US trade deficit in November. The single European currency shot up to 1.3278 dollars from 1.3106 late on Tuesday in New York. The dollar stood at 102.33 yen from 103.30 on Tuesday.
The euro rose at one point close to 1.33 dollars, while the pound climbed back above 1.89 dollars.
Meanwhile, European stock markets fell yesterday. London’s FTSE index shed 0.73 percent to finish at 4,783.6, Paris’ CAC 40 slumped 0.85 percent to 3,816.14 while in Frankfurt the DAX tumbled 1.16 percent to end the session at 4,208.82.
In New York, the Dow Jones Industrial Average was up 25.65 points, or 0.24 percent, at 10,581.20. The Standard & Poor’s 500 Index was up 0.90 of a point, or 0.08 percent, at 1,183.89. The technology-laced NASDAQ Composite Index was up 3.08 points, or 0.15 percent, at 2,082.70.
