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Tuesday, October 17, 2000
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India's
first e-business paper |
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Dollar makes its mark in Tokyo
Wayne Cole
Tokyo, Oct 16: The euro languished just a cent from lifetime lows on Monday while the dollar basked not far from decade highs in trade weighted terms.Brightening the dollar's day was the startling rebound on Wall Street, which not only calmed some of the market's concerns on the U.S. Economy but also sparked an unwinding of safe-haven flows out of sterling and the Swiss franc and into the dollar.Darkening the euro's skies were comments from European Central Bank (ECB) President Wim Duisenberg ruling out Group of Seven intervention should the single currency be roiled by an external event like a Middle East War, the report added. Traders expressed bewilderment at the remark given just three weeks ago the ECB had spent billions of dollars to support the currency. (Reuters) Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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Copyright 1999: Indian Express Newspaper(Bombay) Ltd. All rights reserved throughout the
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