19 March 2001, 10:59 Currency markets were subdued in late trade on Friday
Currency markets were subdued in late trade on Friday, as dealers
braced themselves for the two key events that will dominate next week's
financial markets. On Monday, the Bank of Japan hinted that they will
likely return to a zero-interest rate policy. The Federal Reserve Bank
will meet Tuesday on the heels of the BOJ meeting, and is expected to
lower rates 50 to 75 points. The dollar remained firm against most
currencies, affirming the safe-haven status seen in recent trading
sessions. "Clearly we are at a point where the market is concerned with
global turmoil," said David Solin, partner at FX Analytics, explaining
the recent demand for the dollar.
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