Dollar rises against most major currencies
The dollar rose against most major currencies on Friday as recent economic reports reduced investors' risk appetite, Xinhua reported.
No important economic data were released on Friday. Some reports released in previous sessions, including housing starts, delinquency rate for mortgage loans, and initial claims for jobless benefits, were disappointing. These reports added to worries that U.S. economic growth could be slow in 2010.
Investors are awaiting a series of new data due next week for trading clues. The U.S. Commerce Department will releases its second estimate for third-quarter GDP on Tuesday.
In the initial report released in late October, it was estimated that U.S. economy expanded at an annualized rate of 3.5 percent in the third quarter. But some economic data since then showed that some sectors in the economy were not as good as expected. Analysts expect that the growth would revised down to 2. 5 percent to 3 percent in the second estimate.
The euro bought 1.4857 dollars in late New York trading compared with 1.4919 dollars it bought late Thursday. The pound fell to 1.6481 dollars from 1.6647 dollars.
The dollar rose to 1.0714 Canadian dollars from 1.0626 Canadian dollars, and rose to 1.0182 Swiss francs from 1.0133 Swiss francs. It fell to 88.96 Japanese yen from 89.01 Japanese yen.