Forex - Dollar fell in volatile market ahead of ECB rate outlook - Forex Forum

 
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> Forex - Dollar fell in volatile market ahead of ECB rate outlook
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post Jul 2 2008, 1:00
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The Dollar fell against the Euro and was little changed against the Yen on Tuesday in a volatile session as investors debated the outlook for the US economy while anticipating a rate hike from the European Central Bank later this week.
US stocks retraced earlier losses after General Motors reported stronger-than-expected June sales, keeping the Dollar off session lows.

The Institute for Supply Management said its index of national factory activity rose in June to 50.2 from 49.6 in May after four straight months of contraction.

Euro-zone manufacturing activity contracted for the first time in 3-year in June and output prices matched April's year high. But analysts said Tuesday's data will not prevent the ECB raising rates.


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