14 September 2005, 15:56  Dollar steady vs. euro, down on yen

The dollar was steady to moderately lower vs. major crosses Wednesday after one of the world's top central bankers downplayed the economic impact of Hurricane Katrina, with traders waiting for U.S. economic data releases. European Central Bank President Jean-Claude Trichet told European parliament Wednesday that the economic impact of Hurricane Katrina will be limited. "We consider that the global impact will most likely remain limited and temporary, but we will of course continue to monitor very closely any available further evidence," he said. The dollar recently fell 0.4% on the yen, at 110.22 yen, while the euro was up 0.02% at $1.2284. The dollar also was steady vs. the British pound. Economists polled by MarketWatch expect August retail sales to decline 1.2% after a 1.8% gain in July; excluding auto sales, economists are expecting a 0.6% rise. Industrial production is due at 9:15 a.m. Eastern; economists polled by MarketWatch see August production rising to 0.2% from 0.1%.

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