3 April 2003, 14:38  Dollar extends Gains vs Euro on US Troop Advance

LONDON, April 3 - The dollar extended its gains against the euro on Thursday, rising beyond $1.07 as the U.S.-led advance in Iraq pressed ahead. By 0945 GMT, the dollar had risen as far as $1.0695 per euro , up about two-thirds of a percent since late New York. The dollar also rose to its highest since Monday at 119.42 yen , up a third of a percent since Wednesday's close. It also gained half a percent on the safe-haven Swiss franc, peaking at 1.3877 francs . "It's the headlines coming out about the U.S. troops moving to Baghdad airport. The dollar's strengthened and we've seen some stops being triggered with some of the systems traders jumping on board. The break of levels is dragging them into short euro/dollar positions as well," said Rob Hayward, senior currency analyst at ABN Amro. //

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