» Forex - Dollar was supported by Corporations squaring books at month end

The Dollar rallied against most currencies on Thursday, buoyed by demand from US corporations seeking to square their books by month-end and those scrambling for cash to cover a seasonally thin year-end period.
Analysts said US data on jobless claims and New Home Sales for October did little to alter expectations that the Federal Reserve will reduce interest rates by 0.25 to 4.25% next month after it cut them by a cumulative 0.75 since September to cushion the economy from a severe housing slump and credit market turbulence.
Fed Chairman Bernanke said late on Thursday a resurgence in financial strains in recent weeks had dimmed the outlook for the US economy, signaling an openness to again lowering interest rates.

Source : ACM

This entry was posted on Friday, November 30th, 2007 at 7:11 and is filed under ACM. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

The Dollar rallied against most currencies on Thursday, buoyed by demand from US corporations seeking to square their books by month-end and those scrambling for cash to cover a seasonally thin year-end period.
Analysts said US data on jobless claims and New Home Sales for October did little to alter expectations that the Federal Reserve will reduce interest rates by 0.25 to 4.25% next month after it cut them by a cumulative 0.75 since September to cushion the economy from a severe housing slump and credit market turbulence.
Fed Chairman Bernanke said late on Thursday a resurgence in financial strains in recent weeks had dimmed the outlook for the US economy, signaling an openness to again lowering interest rates.

Source : ACM

This entry was posted on Friday, November 30th, 2007 at 1:00 and is filed under ACM. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.