Dollar near one-month low
Afp, Tokyo
The dollar languished close to one-month lows in Asian trade Wednesday after soft US economic data fanned expectations that the Federal Reserve will hold US interest rates steady for now, dealers said. The dollar was at 116.87 yen in Tokyo morning trade, little changed from 116.86 yen in New York late Tuesday. The euro was at 1.2765 dollars after 1.2764 and at 149.17 yen from 149.22. The dollar hit a five-week low of 1.2782 per euro in overseas trade Tuesday and a one-month trough of 116.62 yen after data on US consumer confidence and industrial activity came in below expectations. The data, which followed softer-then-expected US growth figures on Friday, prompted players to buy back the yen to square positions, said Satoru Ogasawara, a forex strategist at Credit Suisse First Boston.
| 
