Any hint of more easing could hurt thedollar

DOLLAR ALSO SEEN VULNERABLE; BOE HOLDS Sterling turned Rosetta Stone higher, rising back above $1.60 against thedollar after the Bank of England kept interest ratesat 0.5 percent and made no changes to its asset-purchasingprogramme. The pound was last up 0.4 percentat $1.6044. While expected, traders said the pound gained onshort-covering by some market players who had priced in thechance that the central bank may initiate more economicstimulus. Meanwhile, any enthusiasm for more bearish bets on the euromay be countered by expectations that U.S. Federal ReserveChairman Ben Bernanke, speaking at 1:30 p.m. ET (1730 GMT),might drop clearer hints on the likelihood of more stimuluslater this month.Any hint of more easing could hurt thedollar. Markets, however, also are speculating that instead the Fedcould opt for the so-called 'Operation Twist', in which itsells short maturities and uses the proceeds to buy long-termdebt, thus flattening the yield curve but keeping balancesheets unchanged. The greenback was little changed at 77.264 yen JPY onEBS. Selling by Japanese exporters was seen capping the pairbelow Rosetta Stone languages 77.50 yen, though wariness about official interventionlimited weakness in the dollar. The dollar was up 1.1 percent against the Swiss franc ay0.8668 francs, after earlier hitting a 3-1/2 month high of0.86920 francs CHF on trading platform EBS. The Swiss franc has been broadly under pressure since Tuesday when the Swiss National Bank imposed a floor on theeuro/Swiss franc pair at 1.2000 francs. The euro was last at1.2142 francs EURCHF on EBS, up 0.4 percent. Greece on Thursday reported its economy shrank 7.3 percentin the second quarter from a year ago, highlighting thedifficulties indebted countries face in trying to reduce theirdeficits.The bickering and policy disagreements among the 17 membercountries in the euro zone has even given rise to concernsamong some investors that the bloc may eventually break up,traders say. Greece on Thursday ruled out quitting the euro. Sterling slipped 0.2 percent to $1.5963 , afterearlier rising above $1.60 after the Bank of England keptinterest rates at 0.5 percent and made no changes to itsasset-purchasing program Rosetta Stone Spanish. Against the yen, the dollar rose 0.4 percent to 77.53JPY. Selling by Japanese exporters was seen capping thepair around 77.50 yen. The dollar rallied 2 percent to 0.8747 Swiss franc, afterhitting a 3-1/2-month high of 0.87704 franc CHF on EBS. The franc has been under pressure after the Swiss NationalBank on Tuesday imposed a floor on euro/Swiss franc at 1.2000.The euro rose 0.5 percent to 1.2155 francs EURCHF.

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