7 March 2006, 17:39  Dollar eased slightly after productivity data

The dollar eased slightly after a Labor Department report showed productivity in the U.S. non-farm business sector fell at a revised annual rate of 0.5% in the fourth quarter, a slight improvement from the negative 0.6% estimate made a month ago. It was the first decline in productivity since the first quarter of 2001, the quarter the recession began. The dollar had picked up fresh strength overnight, buoyed by remarks from William Poole the President of the St. Louis Fed who noted that the Fed was prepared to become even more aggressive in its rate hike campaign if future US economic data proved robust. In early trade, the dollar was up 0.2% at 117.80 yen, while the euro was down 0.8% at $1.1908

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