LONDON/TOKYO –– The euro pulled back in early European deals on Thursday after tumbling against the dollar and yen in Asian trading on mounting worries over Europe’s economies and the prospect of further rate cuts there, analysts said. In London morning trading, the euro stood at US$1.3470 compared to below 1.34 in Asian deals and US$1.3495 late in New York on Wednesday. The European single currency rose to 135.42 yen from 134.91 yen late Wednesday. Against the Japanese currency, the dollar climbed to 100.62 yen from 99.99 yen on Wednesday in New York. In London morning trade on Thursday, the euro changed hands at US$1.3470 against 1.3495 late Wednesday, at 135.42 yen (134.91), 0.7808 pounds (0.7815) and 1.5318 Swiss francs (1.5283). The dollar stood at 100.62 yen (99.99) and 1.1377 Swiss francs (1.1320). The pound was at US$1.7244 (1.7265). On the London Bullion Market, the price of gold fell to US$836.34 an ounce from 847 late on Wednesday. Hong Kong gold prices closed lower on Thursday at US$835.00-836.00 an ounce, down from Wednesday’s close of 846.00-847.00. It opened at US$843.00-844.00. Earlier in Tokyo afternoon trade, the euro fell to US$1.3388 from 1.3495 in New York late Wednesday and to 133.67 yen from 134.91. The dollar was changing hands at 99.88 yen, having slipped below 100 in New York on Wednesday. The dollar rose against Asian currencies. It rose to S$1.4800 from 1.4689 on Wednesday, to 1,324.40 South Korean won from 1,255.0, to NT$32.54 from 32.40, and to 47.90 Philippine pesos from 47.50. It also climbed to 9,830 Indonesian rupiah from 9,777 and to 34.27 Thai baht from 34.10.

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