Petr Kantor (Neuron Investment Corp.)
Currencies | December 04, 2000 19:58:38, updated
Evropský Trh 4/12 2000
The USD was broadly weaker in European trading today. A faster than expected slowdown in the US economy and increasing confidence in the euro zone region buoyed the Euro higher versus the USD from an open of 0.8785 to a new two month high of 0.8922. Excellent buying interest was seen all session on dips and the currency pair hovered within the day’s high going into the close. GBPUSD garnered strength from the broad based rebound in European currencies, and it too pushed to new one month highs peaking its head above 1.4500 to highs of 1.4520. USDJPY was slightly weaker from an open of 111.10 to lows of 110.52 on the overnight rebound in the Japanese stock market. USDCHF. USDCHF touched new three and a half month lows of 1.7002, on the brink of the psychological support level of 1.7000. The currency pair opened up almost three big figures higher and steadily sold-off all session in 50-point moves. In addition, the Swiss National Bank came out and said that the economy was remarkably balanced and saw less danger of inflation overheating in 2001. This statement kept the CHF well bid against the USD
