13 August 2001, 17:22  US FX Daily Outlook: Dollar down across board; euro rallies

By Cornelius Luca
New York, Aug. 13 (BridgeNews) - The dollar opens the week on a soft note versus its major counterparts as the euro rallies to a fresh three-month high of 89.95 cents to the dollar. Increasing doubts that the U.S. economy will rebound before 2002, although the euro-zone economy remains equally stagnant, boosted the 12-nation currency.
Dollar/Swiss franc bored to a five-month low of 1.6821, while the dollar declined versus both the yen and the sterling, but remained within recent ranges, as traders looked for new factors. One day after peaking a 17-day high of 1.5435, dollar/Canada slipped to a four-day low of 1.5371 on long liquidation.
With no domestic economic events to be released Monday, dollar/yen should remain sidelined before the Bank of Japan policy board makes a decision Tuesday. After breaking significant resistance overnight, euro/dollar looks well poised to extend gains to the psychological 0.9000 level.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 121.46 122.02 -0.56 121.38 122.52
EUR/USD 0.8989 0.8933 0.0056 0.8925 0.8995
EUR/JPY 109.17 108.95 0.22 108.99 109.46
GBP/USD 1.4231 1.4232 -0.0001 1.4210 1.4270
USD/CHF 1.6835 1.6937 -0.0102 1.6821 1.6954
USD/CAD 1.5377 1.5392 -0.0015 1.5371 1.5400
AUD/USD 0.5185 0.5133 0.0052 0.5135 0.5186
NZD/USD 0.4280 0.4252 0.0028 0.4246 0.4288
SP.1 1194.00 2.80 1187.50 1197.40
ND.1 1639.00 15.00 1613.50 1649.00

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