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Dollar jumps to seven-week high

The dollar jumped to a seven-week high against the euro here yesterday on the unexpected news that the US trade deficit had narrowed in November for the third straight month.

The single European currency in late-day deals was at 1.2939 dollars after 1.3000 late Tuesday in New York. The euro at one point slid to 1.2932 dollars, its lowest reading since November 23. The dollar was meanwhile trading at ¥119.58 against 119.34 on Tuesday. On the London Bullion Market, the price of gold rose to $618.40 per ounce from $609.60 on Tuesday.  Oil slid toward $54 yesterday. US crude was down $1.27 cents at $54.35 a barrel at 1736 GMT. London Brent crude was down $1.15 at $54.03.(arabnews.com)