In the Dollar slipped against the Euro early as oil importers bought greenback to make their end-month purchases and traders said it could weaken further next week.
In the early trade yesterday, commercial banks quoted the Dollar being weaker that the the Euro. ''There are some energy and oil sector guys in the market buying Euros,'' said Tom Cliff a financial analyst at EBusiness Reviews.
He added that corporate Euro demand may tick up next week as corporate clients return after the Christmas holidays and that might weigh on the dollars.
The dollars poised to pen the year up one percent against the Euro; a better performance than last year. When it hit a record low to the Euro as inflation soared and closed the year weak against the Euro Currency.
The dollar currency has been well supported by Bank of America which kept its key lending rate high for the first half of the year and regularly soaked up dollar currency from the market via repurchase agreements.
Financial traders embarked on an easing cycle in November, to talk about fiscal cliff before it threatens the economy nascent recovery.
The fiscal cliff which is tied with the financial market activities, saw president Obama asked the congressional leaders to convene a meeting at the White house for the last-minute talks on a fiscal cliff deal that avoids automatic tax increases and broad spending cuts.
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