Monday, November 29, 2004
Reuters
Dollar Firms as Focus Turns to U.S. Data
The dollar gained tentatively on Monday, recovering from last week's record low against the euro and a 4-1/2-year trough against the yen as traders turned their sights to U.S. economic reports due later in the week.
Signs that China is in no rush to let its pegged currency appreciate against the dollar helped lend some support to the greenback, which has fallen for 10 consecutive weeks.
Chinese Premier Wen Jiabao on Sunday played down the likelihood of a near-term yuan revaluation and questioned why the United States had not acted to stem the dollar's fall.
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