DAWN.COM

Today's Paper | September 19, 2024

Published 07 Feb, 2009 12:00am

Dollar falls

LONDON, Feb 6: The dollar fell against the euro in late Friday trade after another horrific set of US employment figures allowed some quick profit-taking on the US unit.

In late Friday trade, the European single currency was at $1.2860, up from $1.2786 in New York late on Thursday.

The dollar rose to 91.70 yen from 91.13 yen.

Dealers said that after another eventful week, the currency markets were still caught in a dilemma of sticking with the dollar for its safe-haven attributes or taking on a little more risk and branching out.

Weak US data has been supportive of the dollar in past months because it encourages such safe-haven buying “and we continue to favour ‘a buy into the dips’ mentality for the dollar,” said Audrey Childe-Freeman of Brown Brothers Harriman.

On the London Bullion Market, the price of gold fell to $913 an ounce from $920 late on Thursday.—AFP

Read Comments

FO slams 'reprehensible disrespect' of national anthem by Afghan official in KP govt event Next Story