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Pound dips against resurgent dollar on jobs news
by
ED CROOKS, STEVE JOHNSON and TONY MAJOR
in
American dollar
/ Central banks
/ Currencies
/ Federal Reserve monetary policy
/ Interest rates
2004
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Pound dips against resurgent dollar on jobs news
by
ED CROOKS, STEVE JOHNSON and TONY MAJOR
in
American dollar
/ Central banks
/ Currencies
/ Federal Reserve monetary policy
/ Interest rates
2004
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Newspaper Article
Pound dips against resurgent dollar on jobs news
2004
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Overview
An offsetting rise against the euro yesterday meant that the pound's exchange rate index against a trade-weighted basket of other currencies was unchanged, and more than 3 per cent higher than the level assumed by the Bank in its forecasts published last month. The euro also fell sharply against the dollar yesterday, losing 2 US cents to Dollars 1.2195, its lowest level since December. The rise in the euro almost to Dollars 1.30 had caused deep concern among eurozone policymakers about the threat to the competitiveness of their slowly recovering economy. Alan Greenspan, chairman of the US Federal Reserve, said the \"awesome\" scale of Japan's accumulation of dollar reserves in an attempt to hold the yen down could become \"problematic\" for the Japanese economy.
Publisher
The Financial Times Limited
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