22 November 2001, 09:03  Dollar edges ahead, hopes Europe less lethargic

Dollar creeping higher with some dealers hoping the start of European trade will draw fresh dollar buying on the back of latest events. -- Top Taliban commander says his troops in Kunduz to surrender. -- Japan's 15th largest non-life insurer files for bankruptcy. -- Japan trade deficit rises for 16th straight month. -- Finance Minister Shiokawa says second supplementary budget not aimed at boosting economic growth. -- But option expiries working to keep dollar bottled up at 123.20 yen after spending session in a 122.99/123.31 range. -- Euro vulnerable at $0.8768 after hitting fresh three-month lows around $0.8754 offshore. Weak Ifo survey has market anxiously awaiting German Q3 GDP figures due later. -- Average forecasts are for GDP to be flat but dealers see risk of an outright contraction which will inflame talk of recession.

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