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12:32, October 02, 2008 |
The dollar rose slightly against the euro on Wednesday as a report showed employment in the private sector of the U.S. economy in September was better than expected.
Financial markets were relatively calm on Wednesday as investors waited for a Senate vote on a revised version of the U.S. financial bailout plan. The House of Representatives rejected the original plan on Monday. The new version includes tax breaks for businesses and the middle class and increases deposit insurance. U.S. President George W. Bush urged lawmakers to promptly approve the package to stabilize volatile markets.
U.S. private employers cut 8,000 jobs in September, according to a report released on Wednesday by Automatic Data Processing (ADP). It was much smaller than a cut of 55,000 jobs forecast. Unemployment in the euro zone rose in August to 7.5 percent, the EU statistical agency Eurostat said. Some analysts expect the euro would fell to around 1.35 dollars in October.
The euro bought 1.4061 dollars in late New York trading compared with 1.4083 dollars it bought late Tuesday. The British pound fell to 1.7753 dollars from 1.7784 dollars.
The dollar fell to 1.1226 Swiss francs from 1.1240 Swiss francs, and fell to 105.84 Japanese yen from 106.37 Japanese yen. It fell to 1.0618 Canadian dollars from 1.0645 Canadian dollars.
Source: Xinhua
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