The dollar rose against the euro and yen on Wednesday in erratic trade with markets uncertain how a dialogue on currencies will turn out when President George W Bush visits Asia later this week
Published:
16 October 2003 y., Thursday
The dollar hit one-week highs on Tuesday, buoyed by optimism on US corporate earnings. But it then erased all the gains as US stocks made a lacklustre start and after Bush said markets should determine currency rates.
By Wednesday’s mid-European session it was on a firmer footing again, rising a third of a per cent against the euro and yen.
Bush also said he would use his trip to Asia to press China and Japan to stop trying to weaken their currencies.
He attends a summit in Bangkok after visiting Tokyo later this week. "Bush is so public about his desire to ask Asian countries to let their currencies rise. If he comes out empty handed it would be a major loss," said Mary Davis, global currency strategist at Credit Suisse First Boston.
By 1130 GMT, the dollar was up a third of a per cent on the day at $1.1684, after a rise of more than one cent on Tuesday which then caved in during US trading hours. Against the yen it was also up a third of a per cent at 109.30 having climbed more than one yen above 110 on Tuesday.
Šaltinis:
jang.com.pk
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
President of the Republic of Lithuania Dalia Grybauskaitė welcomed the decision taken by the U.S. Government to transport shipments for the international mission in Afghanistan by transit via the Klaipėda Seaport.
more »
EU Solidarity Fund aid to repair storm damage in France and Portugal was approved by the Budgets Committee on Thursday.
more »
The European Investment Bank and the Government of Samoa formally agreed to support the rehabilitation and upgrade of independent water schemes in the Pacific island state under a EUR 250,000 technical assistance programme.
more »
Steps to overhaul the European Union's flagship single market were discussed on Tuesday (9 November) by MEPs and interested parties.
more »
Strategy to secure a sustainable EU energy supply and support economic growth over the next decade.
more »
EU funding to help 850 former workers in the aircraft maintenance industry around Dublin find new jobs was approved by the European Parliament on Thursday.
more »
Saffron farmers in western Afghanistan hope to oust opium as a harvest crop.
more »
The European Commission has approved an application from Poland for assistance from the European Globalisation adjustment Fund (EGF).
more »
New plans for EU industry to create jobs while keeping manufacturing in Europe.
more »
The European Commission has approved two applications from Spain for assistance from the EU Globalisation Adjustment Fund (EGF).
more »