Dollar stable as dealers eye G8, Iran

LONDON (AFP) — The dollar eased against the euro but firmed against the yen Wednesday as dealers digested news that Iran had test-fired a long-range missile and world leaders wrapped up a key summit in Japan.

The European single currency rose to 1.5670 dollars in early London trade on Wednesday, from 1.5664 dollars late on Tuesday.

Against the yen, the dollar edged up to 107.55 yen from 107.50.

The G8 powers wrapped up summit talks on the global economy Wednesday with fresh warnings about the threat from soaring commodity costs but no quick fixes for jittery markets.

"The end of the G8 meeting in Japan today (Wednesday), without anything further on the dollar, has coincided with a missile test from Iran, which have prompted some renewed dollar selling against most other currencies," said Derek Halpenny, economist at The Bank of Tokyo-Mitsubishi UFJ in London. ...