11 October 2004, 10:46  Dollar steady near recent lows in Europe

The dollar settled near recent three-week lows against the yen and a one-week low versus the euro in early European trade on Monday as weak U.S. jobs data continued to fan questions about future rate hikes in the U.S. On Friday, the dollar lost more than a cent against the euro when payrolls data showed the U.S. economy creating fewer jobs than was expected and sparked concerns among dollar bulls about future monetary tightening. No further U.S. data releases were scheduled for Monday and trading was thin due to a market holiday in Japan and the United States. At 0635 GMT the dollar traded steady on the day across the board, holding at $1.2399 against the euro and 109.45 yen . It hit a three-week low of 109.29 yen on Friday and its lowest in a week at $1.2433 per euro. UK trade balance data and producer prices were scheduled for release at 0830 GMT. For full report on major currencies click on [FRX/] For previous updates on currency moves click on [USD/-M]///

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