What's Happening This Morning in
Foreign Exchange Markets :
The US Dollar performed sedately on Friday, opening in New
York around 1.4742 and closing at 1.4701 from a daily
range of 1.4757 and 1.4656 - not too hot and not too cold.
Overnight in Asia, the
US Dollar first made a new highest
high (1.4641) but then lost ground to 1.4768, which is a
higher Euro high than on Friday. A higher high is always
worrisome, but the "reason" is said to be pulling back
on impending housing and inflation reports this week
(Bloomberg). " Foreign Exchange Traders are adding to bets the US housing
slump and widening credit-market losses will keep the
Fed from raising interest rates this year."
Bye for Now
Barbara Rockefeller |
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