Friday, April 20, 2007

Greenback Mixed With Other Currencies, Friday, April 20, 2007 3:36:17 PM

The U.S. dollar remained at mixed levels on Friday in New York. The greenback was up on the yen, choppy with the sterling and down near a record low against the euro. Trading took place amid little major financial news in the U.S.

The dollar rebounded Friday afternoon in New York after testing a record low against the euro earlier in the morning. The dollar plunged to as low as 1.3624 at 2:15 a.m., extending its two-year low and near an all-time mark. The greenback got as low as 1.3666 in November of 2004. The dollar rebounded from Friday`s low at around 3 a.m. and climbed through the mid-morning. The pair was at 1.3593 at around 10 a.m. Trading was flat from there into the afternoon. Trading took place amid word that French consumer spending growth came in better-than-expected in March, recovering from a fall in the prior month.

The greenback was choppy with the British pound during Friday morning trading in New York, near a 26-year low. The dollar fell to as low as 2.0069 at 2:30 a.m. and bounced back to as high as 1.9990 at 4:45 a.m. before settling back. The pair was at 2.0035 at 4 p.m. ET. Trading took place amid the release of data that showed U.K. retail sales growth eased in March, though annual increase remained solid, official data showed Friday.

The dollar advanced against the Japanese yen as it attempts to rally off the two-week low reached earlier in the week. The pair was level until about 7 a.m. when the dollar briefly slipped. But at around 9 a.m., the greenback began climbing and reached as high as 118.95 at 10 a.m. The dollar slipped until about noon when it leveled off for the day. Trading took place amid the release of convenience store data in Japan that showed a 1.1% decline in sales.
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