24 July 2001, 16:39  US FX Daily Outlook: Dollar slips ahead of Greenspan testimony

By Jim Cote and Cornelius Luca
Chicago, July 24 (BridgeNews) - The dollar slipped against the Japanese yen and the euro in quiet trade ahead of Fed Chairman Alan Greenspan's testimony on monetary policy to the Senate Banking Committee. The yen rallied alongside the Nikkei while the euro continued to dance around the 0.87 level.
Just like euro/dollar and dollar/yen, dollar/Swiss franc edged lower within Monday's range. Sterling/dollar and dollar/Canada slipped on long liquidation to five-day lows of 1.4160 and 1.5391, respectively. Traders will gauge Fed Chairman Greenspan's speech on hopes that he will diverge from last week's statements.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 124.02 124.46 -0.44 124.00 124.47
EUR/USD 0.8707 0.8688 0.0019 0.8687 0.8725
EUR/JPY 108.01 108.15 -0.14 107.94 108.32
GBP/USD 1.4178 1.4196 -0.0018 1.4160 1.4204
USD/CHF 1.7302 1.7333 -0.0031 1.7273 1.7337
USD/CAD 1.5396 1.5449 -0.0053 1.5391 1.5450
AUD/USD 0.5075 0.5078 -0.0003 0.5070 0.5091
NZD/USD 0.4098 0.4087 0.0011 0.4089 0.4107
SP.1 1193.20 1.20 1190.10 1196.60
ND.1 1640.50 -2.00 1631.00 1652.50

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