Dollar on mixed footing | The Daily Star
11:00 PM, July 07, 2009 / LAST MODIFIED: 11:00 PM, July 07, 2009

Dollar on mixed footing

The dollar rose Tuesday against the euro but fell against the yen amid jitters over the global economy and this week's summit of the Group of Eight economic powers, analysts said.
In late morning trading here, the European single currency fell to 1.3954 dollars from 1.3979 dollars in London late on Monday.
Against the Japanese currency, the dollar dropped to 95.12 yen from 95.33 yen on Monday.
The world's most powerful leaders gathered Tuesday in Italy on the eve of a G8 summit aimed at finding common ground on issues including the global economic crisis, climate change and turmoil in Iran.
Market players are now "looking to what will come out of the G8 summit," said Masato Otsubo, currency analyst at Resona Bank.
"There is caution that talks on the dollar as an international reserve currency would trigger dollar selling," he added.
China said last week that it wanted a broader global monetary system, ahead of President Hu Jintao's departure for the G8 summit, which starts Wednesday.
China is not a member of the G8, which groups Britain, Canada, France, Germany, Italy, Japan, Russia and the United States, but is regularly invited to join enlarged sessions at the annual summit, along with other major nations.

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