Dollar rises slightly in light trading

Dollar rises slightly in light currency trading due to Hurricane Sandy

Associated Press

NEW YORK (AP) -- The dollar rose slightly against other major currencies in light trading Monday as Hurricane Sandy approached the East Coast.

An increase in U.S. consumer spending last month helped boost the dollar.

The euro fell to $1.2904 in late trading Monday from $1.2932 late Friday. The British pound fell to $1.6034 from $1.6099.

U.S. stock markets closed Monday in preparation for the hurricane, and transportation in New York City has been shut down. Stock markets will also be closed Tuesday, as will bond markets.

The Commerce Department said Monday that consumer spending rose 0.8 percent in September, up from a 0.5 percent gain in August. Personal income rose 0.4 percent.

The dollar rose to 79.82 Japanese yen from 79.66 yen, to 0.9365 Swiss franc from 0.9352 Swiss franc and to 1.0008 Canadian dollar from 99.88 Canadian cents.

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