30 July 2003, 11:04  Dollar broadly steady in Europe, awaits data

LONDON, July 30 - The dollar held near one-month highs on the yen and steady on the euro on Wednesday as markets shrugged off the previous session's disappointing U.S. consumer confidence reading in hopes of better data later in the week. Analysts say the market is not ready to give up on the U.S. recovery story it invested in recently and will look to the Federal Reserve's Beige Book economy activity report later on Wednesday, Thursday's gross domestic product and Friday's jobless figures for vindication. This optimism helped the dollar claw back from Tuesday's disappointing Conference Board reading on July consumer confidence, which slid to its lowest reading since March. At 0700 GMT the dollar was right near its one-month high of 119.97, though barely changed versus the previous New York close. Against the euro it was flat on the day at $1.1429 . Uncertainty over whether and how firmly the U.S. recovery was taking hold kept major currencies in tight ranges, but the latest victims of U.S. economic optimism appeared to be the Australian and Canadian dollar. Both were down over half a percent versus the greenback.

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