Dollar stronger on interest rate speculation

| July 19, 2005 | 0 Comments
Dollar stronger on interest rate speculation

The US dollar was stronger on Tuesday due in large part to the prospect of further rises in US interest rates.

The greenback initially gained 0.8 percent to $1.1954 in relation to the euro, but later slipped back slightly to $1.2015.

It hit a 14-month high against the yen when it gained 0.9 percent to ¥112.92, gained 0.7 percent to SFr1.3024 in relation to the Swiss franc, a 15-month high. The dollar also gained 0.6 percent in relation to sterling, to $1.7274.

Sterling fell to near a 16-month low in relation to the euro, down 0.3 percent to £0.6914, while the euro gained 0.3 percent to SFr1.5644 against the Swiss franc, a 15-month high.


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