NEW YORK-- The U.S. dollar continued rising Thursday against the euro and other major currencies as prices of oil, gold and other commodities fell on economic concerns.
As data have begun to suggest that record-high oil prices are starting to drive down demand, investors who sank money into gold and oil appear to be coming back.
Crude oil dropped below 99 dollars per barrel in New York trading on Thursday before regaining some grounds. Gold futures posted the biggest weekly loss in years after a months-long rally.
The U.S. and European markets are closed on Friday for Easter holidays. It led some investors to reduce dollar shorts ahead of the long weekend, analysts said.
The greenback was also bolstered by the news that the Federal Reserve would make 75 billion dollars in securities available to banks next week as part of its ongoing effort to ease the credit crunch.
The euro bought 1.5444 dollars in late New York trading, down from 1.5613 dollars late Wednesday. The British pound fell from 1.9849 dollars from 1.9826 dollars.
The dollar was unchanged at 100.00 Japanese yen. It rose from 1.0009 Swiss francs to 1.0098 Swiss francs, and rose from 1.0102 Canadian dollars to 1.0239 Canadian dollars.
As data have begun to suggest that record-high oil prices are starting to drive down demand, investors who sank money into gold and oil appear to be coming back.
Crude oil dropped below 99 dollars per barrel in New York trading on Thursday before regaining some grounds. Gold futures posted the biggest weekly loss in years after a months-long rally.
The U.S. and European markets are closed on Friday for Easter holidays. It led some investors to reduce dollar shorts ahead of the long weekend, analysts said.
The greenback was also bolstered by the news that the Federal Reserve would make 75 billion dollars in securities available to banks next week as part of its ongoing effort to ease the credit crunch.
The euro bought 1.5444 dollars in late New York trading, down from 1.5613 dollars late Wednesday. The British pound fell from 1.9849 dollars from 1.9826 dollars.
The dollar was unchanged at 100.00 Japanese yen. It rose from 1.0009 Swiss francs to 1.0098 Swiss francs, and rose from 1.0102 Canadian dollars to 1.0239 Canadian dollars.
