Euro falls slightly on dollar to $1.3287

FRANKFURT — The euro fell slightly against the dollar on Monday as investors looked forward to the inauguration of President-elect Barack Obama and hoped a massive stimulus package will kick-start the U.S. economy.

The 16-nation euro bought $1.3287 in European morning trading, down slightly from $1.3300 late Friday in New York.

With President-elect Barack Obama's inauguration on Tuesday, sentiment has been supported in recent days by hopes that the new U.S. administration will act boldly to revive the ailing American economy, a vital export market for Europe. Still, analysts say the optimism could quickly fade amid a litany of dismal earnings results.

On Friday, Citigroup Inc. and Bank of America Corp. announced plans to improve their operations after posting large fourth-quarter losses, while several U.S. companies announced they would cut thousands of jobs.

In other currencies, the British Pound bought $1.4716 Monday, down from $1.4746, after the British government announced a second raft of rescue measures for the banking sector to promote lending.

The dollar traded at 90.44, compared with 90.58 yen late Friday in New York.

Back To Top

	Dollar slides on big losses for banks, job cuts	Associated Press	Mon Jan 12	1
	European Central Bank cuts rates to 2 percent	Associated Press	Tue Jan 13	0
	Dollar up, gold up in morning trading	Associated Press	Tue Jan 13	0
	German economy grew by 1.3 percent in 2008	Associated Press	Wed Jan 7	0