31 October 2001, 09:44 Forex Traders squared short dollar positions
ahead of Wednesday's preliminary U.S. GDP release in U.S. hours, sending most
major currencies lower vis-a-vis the dollar. Traders said most currency
positions are "short term and more contained" of late, leading to quick
shifts in currency pairs and a lack of liquidity. The euro-dollar closed
at $0.9046 on Tuesday, well down from the $0.9101 highs seen earlier.
Traders said one Asian named euro sell order near the highs would likely
cap any additional rally in the pair.
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