4 April 2005, 14:37  Dollar Is Mixed, Gaining Strength Against the Yen and the Euro

The dollar was mixed Monday, gaining strength against the yen and the euro but trading lower against the British pound ahead of this week's European Central Bank meeting.
The euro bought US$1.2890 in European trading, down from US$1.2892 in New York late Friday and well off the high of US$1.3059 it reached in trading Friday. The British pound fell to US$1.8767 from US$1.8811 on Friday.
The dollar rose to 108 yen, above the 107.61 yen it bought in New York late Friday.
The European Central Bank meets Thursday for an interest-rate setting meeting. No change is expected, but the bank's comments will be closely watched.
After languishing last year, the dollar has gotten a boost lately from expectations for higher interest rates in the United States. Higher U.S. interest rates tend to boost the value of the U.S. currency, and markets will be watching remarks from U.S. Federal Reserve officials this week.
On Friday in New York, the dollar rose to its highest levels since last October, despite weaker-than-expected payroll growth data released that day.
The U.S. currency also has received recent lifts from weak economic indicators for the Japanese economy, but such rises have been limited amid assurances by Japanese government officials and many analysts that the Japanese economy is not heading into another recession.

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