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U.S. dollar rises to 26-month high against British pound |
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10:49, August 30, 2008 |
The U.S. dollar rose to a 26-month high against British pound Friday and was mostly higher against other major currencies.
The British pound hit a 26-month low of 1.8171 dollars before trading to 1.8218 dollars late in New York Friday. The pound, lost almost 3.5 cents this week, has declined about 14 percent of its value against the dollar since its high in November.
The European Commission said that euro-zone inflation is down slightly from the record high of 4 percent in June and July. The euro rose to 1.4671 dollars late Friday in New York from 1.4702 dollars late Thursday.
Canada's government reported its economy grew more weakly than expected in the second quarter and contracted more than had been thought in the first quarter.
The dollar rose to 1.0630 Canadian dollars from 1.0519 and it also rose to 1.1016 Swiss francs from 1.0994.
Source: Xinhua
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