950829

Dollar upwards

NEW YORK: The dollar edged off its highs at US midday, settling into a range after a bout of short-covering pushed it above 1.4720 marks.

Dealers said two slightly stronger-than-expected US economic reports - new home sales for July and consumer confidence for August - had little impact on the dollar.

Pedroli said the dollar turned around after support held Monday around 1.4580 marks.

At midday, dollar/mark stood at 1.4711/16 versus 1.4670/75 at the open and dollar/yen rose to 97.66/71 from 97.39/44 at the open.

The dollar rose to 1.2110/15 Swiss francs from 1.2080/85 at the open. It was at Canadian $1.3393/98 from $1.3420/25 at the open. Sterling fell to $1.5445/55 from $1.5490/00 at the open.-Reuter