LONDON, 24 March 2005 — The dollar rose further against the euro yesterday after US inflation numbers came in above expectations, confirming that interest rate-setters were right to worry about mounting price pressure. The euro dropped to 1.2975 dollars from 1.3068 late on Tuesday in New York. The dollar firmed to 105.90 yen from 105.61 on Tuesday.
Meanwhile, leading European stock markets closed lower yesterday, with the London FTSE 100 index ending the session on a loss of 0.54 percent at 4,910.4 points. In Frankfurt, the DAX slipped 0.08 percent to 4,317.20, and in Paris the CAC 40 fell 0.36 percent to 4,032.41.
In New York, after a mixed opening for the major averages, the Dow Jones Industrial Average edged up 3.60 points (0.04 percent) to 10,474.21, while the NASDAQ composite added 5.02 points (0.25 percent) to 1,994.36 at 1625 GMT.
Asian stocks fell sharply yesterday.
