Dollar remains soft ahead of G7

The U.S. dollar remained on the soft side against the euro, amid fading expectations of any joint effort by world finance chiefs to talk up the sagging greenback at a key meeting in Washington on the weekend.

Analysts said that with the focus at the Group of Seven meeting of finance ministers and central bankers likely to be on improving liquidity conditions to help ease the economic impact of the credit crunch, currency issues are likely to take a back seat.

Moreover, market participants noted that China is allowing its yuan currency to appreciate relatively quickly -- at an annualised rate of 18 percent in the first quarter of the year.

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- Posted: 2008-04-11 08:41:14

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