Dollar Stable To Sterling After Hitting 26-year Low Wednesday Morning, Wednesday, July 04, 2007 7:52:57 AM

The dollar slipped to its lowest point since 1981 against the sterling before stabilizing Wednesday morning in New York. Trading was subdued with the US markets closed for the July 4 holiday.

The dollar was choppy against the sterling Wednesday morning in New York, falling below the 2.02 mark for the first time in 26 years before recovering to 2.0175 by 7:30 am ET. Traders considered data showing U.K consumer confidence declined in June for the first time since December 2006.

The dollar was range-bound against the euro Wednesday morning in New York, moving between 1.3531 and 1.3608. Trading took place amid the release of data showing Euro zone retail sales growth slowed to 0.4% annually in May.

The dollar improved slightly to the yen Wednesday morning in New York, rising to 122.51 from 122.25 the previous evening. Traders were looking ahead to Thursday`s release of Japan`s leading index figures.

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