U.S. Dollar Falls Against Euro
The dollar fell slightly against the euro Friday as the 12-nation European currency maintained a rebound it staged the day before. In late trading in New York, the euro bought $1.1815, up from $1.1813 late Thursday in New York when the common currency rose after a European Central Bank board member indicated more interest rate hikes may be needed. The dollar bought 120.64 Japanese yen, up from 120.26 the night before, and the British pound rose to $1.7543 from $1.7530 in New York. The dollar rose to 1.3022 Swiss francs from 1.3003, and fell to 1.1572 Canadian dollars from 1.1586. Much of the currency market's focus recently has been on interest rates. The Bank of England held official rates steady this week at 4.5 percent for the fourth consecutive month.
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