: Dollar bounces further, eye on U.S. equities High Street Networking

19 November 2001, 15:23 : Dollar bounces further, eye on U.S. equities

- Dollar powers up to fresh three-month high around 123.50 yen after aggressive buying by European banks.
- Greenback also edges higher vs euro to session highs around $0.8790 , up more than half a percent.
- Sentiment largely in favour of dollar thanks to optimism over a swift end to U.S. military involvement in Afghanistan and hopes for further gains on U.S. equities.
- Dollar faces next resistance vs yen at 123.85 then 124.25, a break of which would open way to this year's high of 126.82, technical analysts say. But dealers said short-term indicators signal dollar is oversold and correction below 122 would be inevitable in near term.