Dollar fights back as war concerns ease

THE euro and sterling sank against the dollar yesterday as concerns about an imminent US-led war on Iraq eased, bolstering the greenback across the board in relatively thin trade.

Analysts say repeated terror scares in London have weighed on the pound, which shed 1% against the dollar to hit a low of $1.5973.

The dollar, which hit a four-year low around 1.34 Swiss francs earlier this month, jumped to a one-month high near 1.38. The greenback also pushed beyond $1.07 per euro, triggering automatic buy orders on the break of key technical levels.