17 Feb '11, 11pm

US dollar eases against euro amid unsettled data

NEW YORK: The US dollar eased slightly against the euro on Wednesday amid mixed economic indicators and anticipation of the G20 finance ministers meet in Paris on the weekend. Dollar investors shunned the news of a pick-up in consumer prices in January - a possible harbinger of higher inflation - as well as a strong rise in the regional industrial activities index of the Philadelphia branch of the Federal Reserve. At 2200 GMT, the euro stood at $1.3605, up from $1.3570 at the same time Wednesday. The dollar also lost ground to the Japanese currency, trading at 83.30 yen from 83.67. Wells Fargo analyst Nick Bennenbroek said there was strength in the Swiss franc and the yen "resulting from safe haven support." "Heading into the weekend, attention will shift to the G20 finance ministers and central bankers meeting in Paris," said Bennenbroek. "While one aim of the meeting is ...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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