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Dollar falls against euro amid hawkish ECB comments |
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08:41, June 06, 2008 |
The dollar fell against the euro after the European Central Bank President Jean-Claude Trichet said ECB officials may raise interest rates to combat inflation.
The European Central Bank and the Bank of England left their key interest rates unchanged on Thursday amid inflation worries. Trichet told a news conference that ECB is considering raising interest rates as early as next month.
Trichet said ECB is monitoring inflation with "heightened alertness" as oil and food prices increase, toughening interest-rate stance of the bank.
The dollar was boosted against the yen by better-than-expected U.S. retail sales and a drop in the number of laid-off workers seeking unemployment benefits.
The euro bought 1.5593 dollars in late New York trading compared with 1.5446 dollars it bought late Wednesday. The British pound rose to 1.9596 dollars from 1.9554 dollars.
The dollar fell to 1.0373 Swiss francs from 1.0414 Swiss francs, and rose to 106.38 Japanese yen from 105.26 Japanese yen. It rose to 1.0184 Canadian dollars from 1.0167 Canadian dollars.
Source: Xinhua
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