10 April 2001, 10:21  EURO-DOLLAR UNDER PRESSURE

The euro-dollar came under pressure at the closeMonday, as traders were forced to liquidate euro-dollar longs in thin market conditions. Most of theafternoon, the euro-dollar stayed in a 20 point rangeof $0.9010 - $0.9030, until stop loss euro-dollar sellorders were triggered on a break of $0.8990,traders said. The euro-dollar was trading at $0.8971at the close. Traders were vocal in saying that"Easter had already overtaken the market." Withmany countries closed or closing early onThursday and most of Euroland off on Friday, sometraders are saying the European Central Bank (ECB)meeting on Wednesday may be a non-event,barring a surprise 50 basis point cut.

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