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
Motorola, Inc. today reported sales of $7.5 billion in the third quarter of 2008.
more »
The global financial crisis has already battered many European banks. Now it is hitting the EU auto industry, the world’s largest producer of motor vehicles.
more »
The European Commission has approved, under EC Treaty state aid rules, a German rescue package intended to stabilise financial markets by providing capital and guarantees to eligible financial institutions.
more »
A new report by the European Commission has assessed the competitiveness of the European Union in the global economy at the end of a decade of rapid economic change.
more »
Revenue surpasses $15 billion with healthy sales of enterprise software and Xbox 360 consoles.
more »
Airport charges are one of the hidden costs of flying and usually they are passed on from airlines to passengers.
more »
US and European leaders agree to series of summits on world finance.
more »
On Monday MEPs will debate a recovery plan for cod stocks in the North Sea and West Scotland. With over 70% of the world’s fish species already fully exploited or depleted, fisheries faces a crisis.
more »
A new study released by the European Commission today confirms the trend towards more private pension provision in the EU but highlights the need for inclusive coverage and adequate pension levels.
more »
Thursday, October 16, Brussels. President of the Republic of Lithuania Valdas Adamkus attended the second day session of the European Council meeting.
more »