Markets & Finance

Dollar Little Changed

MARKERTSCOPE : The dollar strengthened on Friday, as investors took hope from news about U.S. economic growth.

One dollar bought 115.62 yen, compared to 115.51 yen at Thursday's close. The euro fell to 1.2065 from 1.2139, while the sterling slipped to 1.7746 from 1.7831.

The release of the U.S.' third quarter Gross Domestic Product showed it rising more than the expected 3.8%, while third quarter Employment Costs rose 0.6% as expected.

Investors weighed this positive news against worries at the White House. Vice President Cheney's top aide Lewis Libby received an indictment on obstruction of justice and perjury charges. Investors continued waiting for more information about the grand jury investigation of the leak of a covert Central Intelligence Agency operative's identity. President George W. Bush's top political adviser, Karl Rove, is not to be among those indicted Friday, although Special Counsel Patrick Fitzgerald has indicated Rove will remain under investigation and in legal jeopardy.

Meanwhile market players continued making bets on interest rates, ahead of the Federal Open Market Committee's meeting scheduled for Tuesday.

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