U.S. Market February 13, 2001

The euro rose a second day against the dollar after European finance ministers said economic growth in the currency zone won't slow as much as in the U.S. Europe's single currency rose to .9323 U.S. cents, from .9250 late Friday in New York. Currency traders and investors will focus on this week will be tomorrow's testimony by Federal Reserve Chairman Alan Greenspan, who will discuss the economy and monetary policy before the Senate Banking Committee.

The British Pound was bolstered during NY hours on Monday after European Union criticism of Britain's expansionary budget polices fanned speculation that government policy would bolster the British economy in the months ahead. Sterling recovered from intra-day lows after UK producer prices fell 0.4 pct in January, the biggest monthly fall since May 1986, and against market expectations of a 0.1 pct increase. The Japanese Yen tested 117.80 area in the aftermath of the BOJ Discount rate cut from Friday. Dollar Swiss held the 1.6510 level after several attempts to break below the level.

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