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09:43, May 17, 2008 |
The dollar fell across the board on Friday after a report showed that U.S. consumer confidence tumbled to a 28-year low this month as rising prices strained household finances.
The dollar rose briefly in early trading on a report showing a rebound in building permits and construction starts for new U.S. homes, which briefly triggered some dollar buying.
The greenback fell back later as the Reuters/University of Michigan index of consumer confidence dropping to 59.5 in May. Consumers fuel two-thirds of national economic activity through their purchases of goods and services.
"Consumer confidence continued to slip in early May due to surging food and fuel prices," the Surveys of Consumers statement said. "Record numbers of consumers viewed the economy in recession and saw little hope of recovery anytime soon."
The euro bought 1.5584 dollars in late New York trading compared with 1.5454 dollars it bought late Thursday. The British pound rose to 1.9562 dollars from 1.9451 dollars.
The dollar fell to 1.0474 Swiss francs from 1.0565 Swiss francs, and fell to 104.17 Japanese yen from 105.26 Japanese yen. It fell to 1.0004 Canadian dollars from 1.0009 Canadian dollars.
Source:Xinhua
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