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06 November 2006 12:12  US dollar little changed


The US dollar was little changed in quiet afternoon trading here, having recovered earlier in the Asian session from a bout of profit-taking on the gains it made Friday after the release of data showing a fall in the US unemployment rate, dealers said. Dealers said that in view of this week's fairly light calendar of US data, the currency market might swing according to sentiment after speeches later today by Chicago Federal Reserve president Michael Moskow and Cleveland Federal Reserve president Sandra Pianalto. Moskow and Pianalto are likely to stress that while the US economy is slowing, inflationary pressures will keep the central bank from cutting its Federal funds rate in the immediate future and so support the dollar, dealers said.
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