Posted by
alfredlester on Thursday, March 03, 2011 2:54:51 PM
NEW YORK (MarketWatch) - The dollar sharply lower Turned Against the euro on Thursday, and Fell Against Other Major Currencies, After the Head of the European Central Bank policy makers signaled That Would Possibly Raise Interest Rates Next Month.
The euro jumped to $ 1.3935 from $ 1.3861 in late North American trading Wednesday it.
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The economic background for general retailers in the UK est très weak, goal, Given Share Price Have Already Fallen, it&&9;s best to sell rallies Into Them Rather Than shorts at current levels, one year options trader says.
The euro rose 1.2% aussi Against the Japanese yen and 0.9% versus the British pound.
The dollar index, Which Measures Against the U.S. unit six major currencies, Slipped to 76,589, off from 76,685 late Wednesday. See real-time currency quotes and tools.
Jean-Claude Trichet, ECB President Of The Said Risks to price Developments in the euro area are you the "upside" And That "strong vigilance" Is Warranted.
His comments in a news conference cam followings policy makers&&9; decision to stand pat and Keep the 17-nation euro zone&&9;s key lending rate at 1%. Read more on ECB.
"The ECB SI signaling in The Strongest possible manner" That It Will Be Raising Rates by at least 25 Basis Point At The next meeting, "Said Michael Woolfolk, senior currency strategist at Bank of New York Mellon. "The market HAD Trichet Expected to use finesse Some hawkish remarks today in history low interest personal loan. He Used a sledgehammer. "
Trichet aussi Said Risks to Price development are tied to rising energy and Other Prices for raw materials.
Currency traders Took little direction from U.S. data exacts new applications for jobless Benefits Unexpectedly Fell In The latest week. See story on U.S. jobless claims.
The Institute for Supply Management&&9;s index On The Health of the Service Sector of the U.S. economy last month aussi cam in Better Than Predicted economists. Read Story on ISM services index.
The dollar HAD Earlier&&9;ve Been High crude oil future cam off highs were reports of a possible plan to end fighting in Libya, a key export of petroleum. We see more oil future.
Reuters Reported That Arab League Secretary-General Amr Moussa Said Libyan leader Moammar Gadhafi has HAD Agreed to Proposed plan by Venezuelan President Hugo Chavez to seek a Negotiated Settlement With rebel forces.
Investors&&9; appetite for risk "caught a small boost" after the postponement, Said Michael Turner, strategist at RBC Capital Markets.
Also Thursday, The dollar rose to 82.39 Japanese yen buy, Compared With 81.90 yen late Wednesday.
The British pound to $ 1.6268 Fell from $ 1.6329.
The Australian dollar Turned Down Against U.S. ictsCounterpart, at U.S. $ 1.0139 from U.S. $ 1.0172.
Currencies: Dollar drops after Trichet&&9;s rate hikes to points