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Dollar stays firmer

NEW YORK: The dollar was firmer against most major currencies in the US, holding onto a positive tone as traders awaited the Treasury's auction of $18 billion of three-year notes.

The three-year auction is the first part of the quarterly US finding. Currency traders want to see the extent to which Japanese investors show an interest.

Ally noted that some expectations that greater Japanese interest would be reflected in the auction helped buoy the dollar overnight and it kept those gains in US trading.

At midday, the dollar was barely higher at 1.4086/91 marks from 1.4080/85 marks at the open. It firmed to 91.65/75 yen from the opening at 91.58/68 yen.

The dollar stood at 1.1667/72 Swiss francs at midday, up slightly from the opening at 1.1660/70 Swiss. It inched higher to Canadian $1.3559/64 from C$1.3550/55.

Sterling was little changed to $1.6005/15 from $1.6010/20.-Reuter