17 October 2001, 09:54 The dollar rebounded slightly vs most major currencies
at the close Tuesday of U.S. trading hours, following frenzied dollar
selling earlier in the day, traders said. When asked if there was any
specific piece of news driving the dollar, traders called it
"repositioning." The euro-dollar ended the day at $0.9084, after being
unable to break much over the $0.9110 level earlier. "The U.S. dollar
should be getting smashed at the moment but the confidence that
Greenspan, Powell, Rumsfeld et al contradicts the bickering going on in
the Eurozone, so no wonder the dollar is getting support," the trader
said. Dollar-yen also was causing confusion among traders and many were
badly burnt by Tuesday's sharp swings.
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