Dollar steady against major rivals
Afp, London
The dollar stabilised against leading currencies on Tuesday ahead of this week's European rate calls, which may crystalize widening interest rate differentials, analysts said. The euro dipped to 1.2738 dollars in early European trading from 1.2739 dollars late in New York on Monday. The dollar stood at 117.55 yen, compared with 117.62 yen late on Monday. With little on the economic calendar for Tuesday, currencies were trading within narrow ranges. The ongoing divergence between the US economy and economies elsewhere continues to weigh on the dollar, particularly ahead of interest rate decisions in the eurozone and Britain on Thursday, analysts said. The European Central Bank was expected to hike borrowing costs on Thursday to 3.25 percent -- despite signs of easing inflationary dangers.
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