24 November 2006, 10:20  Euro near 5-mth high vs dollar

The euro held near a 5-? month high against the dollar on Friday, supported after an upbeat German business sentiment survey strengthened expectations euro zone interest rates will keep rising into next year. The yen slipped after rising to a 2-? month high against the dollar on Thursday, as yen-selling by Japanese importers and retail investors, including individuals doing currency margin trades, helped stunt its momentum, traders said. "Foreign currency buying by Japanese individuals, either directly or through brokerage houses, has been strong," said a trader for a Japanese trust bank. The yen hardly budged on comments by Bank of Japan Policy Board member Toshikatsu Fukuma, who said the central bank will tread carefully when conducting monetary policy and will not be guided by any preset views on the timing of interest rate adjustments. The euro was little changed at $1.2960 . It rose as far as $1.2976

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