Dollar mixed against sterling and euro on unchanged rates (AP) (08-05-2008)

FRANKFURT, Germany (AP) -- The dollar was mixed against the main European currencies on Thursday after the region’s central banks left interest rates unchanged.

The common European currency was worth $1.5356 in late morning European trading, down from the $1.5401, after the European Central Bank left rates unchanged at 4 percent. The British pound edged higher to $1.9562, from $1.9531 after the Bank of England left its rate unchanged at 5 percent.

The dollar fell to buy 104.10 Japanese yen from 105.26 yen in New York overnight.

Analysts were of the opinion that the dollar was maintaining its position against the euro on talk of the U.S. Federal Reserve Bank considering stopping a series of rate cuts, which have brought the interest rate down to 2 percent.

That's in contrast to the ECB, which has kept its rate unchanged at 4 percent and did so again on Thursday.

Also helping the dollar was a report that showed the trade surplus in Germany, Europe's largest economy, was 16.7 billion euros ($25.77 billion) in March, down from 16.9 billion euros in February. A Dow Jones Newswires survey of 12 analysts had forecast a surplus of 16.8 billion euros ($25.92 billion).

  Source AP