11 July 2005, 16:48  U.S. dollar broadly lower to start week

The dollar drifted lower in early U.S. trading as investors continued to unwind some of the bullish positions that had taken the dollar to multimonth highs last week before the greenback declined on increased terrorism jitters. With no dollar-moving U.S. economic data due until Wednesday's trade report, traders said they expected currency market consolidation to persist. At last check, the dollar was changing hands at 111.99 yen, down 0.2% from where it stood late Friday. The yen reclaimed some ground as crude prices fell from record territory. The greenback fell 0.4% against Europe's shared currency, with one euro worth $1.2005. The dollar fell 0.5% against the British pound, with sterling fetching $1.7451.

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