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
The financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people.
more »
Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment.
more »
The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn.
more »
The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country.
more »
The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF).
more »
Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU.
more »
Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday.
more »
Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date.
more »
75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU.
more »
The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia.
more »