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Fears over the housing market and subprime lending continued to dog the dollar this week as it lost ground against a number of currencies.
Late in New York the euro was trading at 1.3689 usd, having fallen to 1.3608 earlier in the day.
This did much to offset Friday’s gains when the dollar was boosted by positive data from the United States Commerce Department.
It said announced gross domestic product was up 3.4 percent annual rate during the three months from April to June, slightly above the 3.3 percent rise expected.
These latest figures have been aided by increased exports and a slightly more positive outlook on the housing industry, according to the United States Commerce Department.
US President George Bush moved quickly to sing the praises of US economic policy, on the back of the results. He emphasized figures that showed good job growth.
However, the dollar was also back in the red against the yen on Monday, down slightly from 118.78 to 118.76. The slight dip came as
The pound weakened against the dollar, down to 2.0228 usd from 2.0270.
Elsewhere, the dallar was worth 1.0688 Canadian dollars. This offset predictions that the two currencies might reach parity in the near future after the US dollar recently hit 30-year lows against its Canadian counterpart.
The dollar was worth 1.2034 Swiss francs on Monday.
15:56
Posted on Jul-31-2007
