8 May 2001, 10:01  The euro-dollar inched lower at the close on Monday

with traders united in their opinion that for the shortterm at least, no one wanted to own euros. Whatevertheir trigger points, $0.8850 or $0.8815, most tradersexpected the euro-dollar to break through those levels.Few expected the euro to rally, barring some kind ofsurprise economic data that might come out ofEuroland or the U.S. and even then analysts were notsure. "If Friday's horrific U.S. employment reportcouldn't get the euro-dollar above $0.9000, well there isnot much else that can," said David Gilmore, economistand partner at FX Analytics in Essex, CT. The yen heldthe firm tone vs the dollar that it has maintained inrecent trading session, dealers said. Dollar-yen closedat Y121.11 and despite several unsuccessful attemptsto decisively break under the Y121.00 area.

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