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Dollar rises against most major currencies
(Xinhua)
Updated: 2008-08-12 06:23

NEW YORK -- The dollar rose against most major currencies on Monday amid falling oil prices and weak economic outlook in the euro zone.

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Crude oil prices extended its slide on Monday after a report showed crude oil imports of China dropped 7 percent in July from the same period of last year.

Light, sweet crude for September delivery fell another 75 cents to settle at 114.45 dollars a barrel on the New York Mercantile Exchange. It briefly dropped below 113 dollars in earlier trading.

The dollar rose to the highest point in months against the euro on speculation of more slowdown signs in the Europe. Investors lowered expectations of a rate hike from the European Central Bank.

The euro bought 1.4928 dollars in late New York trading compared with 1.5013 dollars it bought late Friday. The British pound fell to 1.9120 dollars from 1.9198 dollars.

The dollar rose to 1.0857 Swiss francs from 1.0810 Swiss francs, and fell to 110.02 Japanese yen from 110.24 Japanese yen. It rose to 1.0687 Canadian dollars from 1.0685 Canadian dollars.