Dollar gains on better-than-expected US data

NEW YORK (AFP) — The dollar held mostly firm Thursday as traders focused on a US Conference Board reading of leading indicators that suggested that the world's largest economy could avoid recession.

The euro dipped to 1.5503 dollars at 2100 GMT, from 1.5532 late Wednesday.

The dollar was meanwhile trading at 107.97 yen after 107.86 on Wednesday.

Trading was little affected by news that the Philadelphia Fed manufacturing index measuring regional activity fell to a negative 17.1 in June, worse than most forecasts.

Instead, the market led on the Conference Board's overall index of leading economic indicators showing a 0.1 percent rise, a reading board economists said indicated that the United States had not fallen into recession and could avoid such a fate in the second half of the year.

The dollar perked up late in the day after having come under ...