BBC
Tuesday, January 2, 2007

The US dollar has fallen further against sterling and other major currencies as analysts await a slew of economic data due out later this week.
The pound was worth $1.9736, up from $1.9613 when last traded on Friday, as the dollar's recent weakness continued.

The dollar also slipped against the euro and the yen although trading was thin as the US bond markets closed early for President Ford's funeral.

Economic concerns saw the dollar fall 14% against the pound last year.

The minutes from the US Federal Reserve's last interest rate meeting, to be published on Wednesday, could provide some indication of whether a interest rate cut is in the offing.

Suggestions that the Fed may cut rates in response to a slowdown in the US economy, allied to the fact that rates are rising in the UK and Europe, has pushed the dollar lower in recent months.