CURRENCIES: Dollar Slips Vs. Yen But Gains On Euro And Pound

By Lisa Twaronite

The dollar edged down against the yen in Asia Thursday, although it gained on its European and British counterparts ahead of central-bank meetings later in the session.

The euro fell to $1.4828, from $1.4871 in late North American trading Wednesday, while the British pound was down 0.5% at $1.6454.

The dollar bought 90.35 yen, down from 90.64 yen late Wednesday.

Later Thursday, the Bank of England will meet and decide whether to expand a massive and extraordinary monetary-stimulus program in the face of a deep and long-running recession. The decision will be announced at 7 a.m. Eastern time.

Separately, the European Central Bank on Thursday is expected to stand pat on rates when its rate-setting Governing Council meets in Frankfurt. The decision will be announced at 7:45 a.m. Eastern, followed by ECB President Jean-Claude Trichet's monthly news conference at 8:30 a.m.

The Australian dollar was buying 90.41 U.S. cents, down about 1%

The Australian Bureau of Statistics said on Thursday that the country's seasonally adjusted trade deficit widened in September, though the gap was still narrower than economists expected.

On Wednesday, the dollar lost some ground against major counterparts after the Federal Reserve left interest rates unchanged near zero and kept its commitment to exceptionally low rates.

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November 05, 2009 03:29 ET (08:29 GMT)


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