Dollar little changed in light holiday trading

AP News
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Posted: Apr 22, 2011 3:48 PM
Dollar little changed in light holiday trading

The dollar is little changed against other major currencies in light trading on Good Friday.

Stock, bond and commodities markets are closed in the U.S. and many markets are also shut in Europe and Asia.

The euro rose to $1.4550 late Friday from $1.4544 late Thursday. It had risen to a 16-month high of $1.4648 during Thursday's trading.

Investors have turned away from the dollar this year because they expect the Federal Reserve to keep U.S. interest rates near zero even as other central banks around the world raise interest rates to counteract rising food and energy prices.

Higher rates tend to support a currency's value.

Elsewhere, the British pound slipped to $1.6516 from $1.6517, while the dollar is flat at 81.90 Japanese yen. The dollar rose to 95.45 Canadian cents from 95.36 Canadian cents and edged up to 0.8860 Swiss franc from 0.8854