Yesterdays News and Events:
 The Dollar fell after the September Philadelphia Fed Survey report showed business activity slowing down in the US mid-Atlantic region for the first time in over three years. The Dollar was already under pressure after the Fed kept rates unchanged and said inflation risks were moderating. The report posted the first negative reading since April 2003 supporting expectations the Federal Reserve will not raise interest rates again in 2006. EurUsd went up 0.8% to 1.2798 from low 1.2697, the biggest one-day advance in two months. UsdJpy dropped from 117.18 to 116.80 before figures, and declined to 116.22 low; 0.9% biggest fall in one day since early September. Gbpusd rose from 1.8900 to 1.9040, it was already set for a bullish tone hitting 1.8996 before US number. Dealers said more weak economic data could bring more trouble for the Dollar in the next few months. UsdZar, dollar slipped to a three year low today 7.6948, extending losses made this month by heavy sell offs across emerging markets and news of growing current account deficit.
 |
