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 European Commission approved an application from Spain for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Commission today reiterated the potential of existing EU-rules on mediation in cross-border legal disputes, reminding Member States that these measures can only be effective if put in place by Member States at national level.
more »
Exports of animals and animal products from the European Union to Russia are expected to receive a boost after five new certificates for exports between the EU and the Russian Federation entered into force on August 15.
more »
World Bank Group President Robert B. Zoellick visited Moldova on August 11-12 at the invitation of Prime Minister Vlad Filat.
more »
These are the financial results of the banking activities of the Danske Bank Group in Lithuania (Danske Bankas and Danske Lizingas UAB).
more »
The European Investment Bank (EIB) today signed its first loan agreement with Armenia.
more »
Given the worsening food crisis in the Sahel, the Commission today agreed to disburse €14.9 million for food security in Niger, the worst affected country in the area.
more »
The European Commission has cleared under the EU Merger Regulation the proposed restructuring of Arnotts' debts in return for a transfer of control to Anglo Irish Bank and Royal Bank of Scotland (RBS).
more »
The European Commission today approved a new financial support package of €135 million for Morocco.
more »
The European Commission is allocating an extra €10 million in humanitarian aid for Liberia.
more »