Dollar Under Attack From All Sides

Thema bewerten
Beitrag: 1
Zugriffe: 244 / Heute: 1
Pichel:

Dollar Under Attack From All Sides

 
25.04.02 10:59



April 25
— By Christina Fincher

LONDON (Reuters) - The dollar extended losses across the board on Thursday as concern the U.S. economy was now lagging the global recovery dimmed the once-unrivalled allure of U.S. assets.

The break of key chart levels accelerated the dollar's decline, pushing it to its lowest against the euro and the Swiss franc since early January and to six-week lows against the yen.

Concern that U.S. assets are overvalued have been heightened by a string of uninspiring corporate earnings and signs that economic growth in the second quarter will not be as strong as the first.

"Investors are worried about U.S. asset prices and are looking for better value elsewhere," said Steven Saywell, currency strategist at Citibank.

"A technical break in the dollar index below its 200-day moving average has encouraged further selling and the dollar now seems under attack from all sides."

Selling from Japanese investors, nervous about holding long dollar positions ahead of Golden Week holidays, pushed the dollar below 129 yen, down half a percent from the previous New York close.

The dollar also fell a quarter percent to fresh lows of $0.8955 per euro and 1.6374 Swiss francs, but inched off its worst levels after a disappointing German Ifo business sentiment survey.

EURO RESILIENCE

The Ifo survey showed the west German business climate index fell to 90.5 in April from a downwardly revised 91.5 the previous month.

The unexpected drop underlined doubts about the speed of recovery in Europe's largest economy, but had only muted reaction given that recent U.S. economic data has also been on the weak side.

Text zur Anzeige gekürzt. Gesamten Beitrag anzeigen »

Es gibt keine neuen Beiträge.
 Ich: 


Börsen-Forum - Gesamtforum - Antwort einfügen - zum ersten Beitrag springen