SOTU did not impress currency traders
by M Aurelius
Wed Jan 21, 2004 at 10:40:50 AM PDT
The Dollar is back down below 0.80 € again. To be fair, it had already crossed the line by the time Dean was getting clobbered in Iowa. However, after SOTU the decline continues, and it is now approaching 0.79 € at 0.793 just a few minutes ago.
So, it appears the Dollar's recovery last week has ended. The question now is if the fall has restarted, or if things will be stable just below 0.80 €.
My bet is that things will remain stable at least till a big news item gives it a kick one way or the other.
- M Aurelius's diary :: ::
