17 May 2001, 09:44  Euro-dollar bulls

Euro-dollar bulls, hidden for days from the mudslinging against the ECB's rate cut and MSCI fears, chose Wednesday to poke their heads out, putting up a hefty fight against the euro-bears, sources said. As late as Tuesday, nary a euro-bull could be found, with most traders counting the many reasons for the euro to test lower levels. On Wednesday, there was talk in the market earlier in the day that over 2 billion euro-dollar had been purchased - yet the euro-dollar was little changed from opening New York levels, traders said.

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