NewsMine — economy — united-states — 2003 — 2003-post-war — Viewing Item

Dollar edges lower { April 9 2003 } Original Source Link: (May no longer be active)    http://reuters.com/financeArticle.jhtml?storyID=2532851&newsType=usDollarRpt&menuType=currencies http://reuters.com/financeArticle.jhtml?storyID=2532851&newsType=usDollarRpt&menuType=currencies Dollar edges lower as market looks past war Wed April 9, 2003 03:20 AM ET LONDON, April 9 (Reuters) - The dollar lost ground against the euro and Swiss franc in early European trade on Wednesday as traders looked beyond the war in Iraq for signs of the state of the U.S. economy. The greenback held steady against the yen however as Asian traders said yen selling on the crosses, reportedly for foreign bond investment, helped support the dollar. By 0715 GMT the dollar was trading a third of a percent lower on the day at $1.0750 per euro and 1.3827 Swiss francs . It was steady at 119.80 yen while the single currency was a third of a percent higher at 128.80 yen . U.S.-led forces moved deeper into Baghdad finding very little opposition in what correspondents there said appeared to be one of the calmest nights in three weeks of war. Two U.S. confidence surveys released on Tuesday showed Americans were a little less gloomy in early April as U.S. troops headed for Baghdad but gave only sporadic signs consumers were ready to start spending again. Preliminary April consumer sentiment data is due on Friday from the University of Michigan. Analysts note that after a report the Fed was refining a rescue plan for the U.S. economy, Federal Reserve Vice Chairman Roger Ferguson said on Tuesday the central bank was always looking at options but that it would be an overstatement to say it had forged an emergency rescue plan. Sterling focus for the day will be British Chancellor of the Exchequer Gordon Brown's presentation of his 2003/04 budget to parliament at 1130 GMT, in which he is expected to announce a hike in borrowing and a downgrade of his economic forecasts. IMF head Horst Koehler on Tuesday forecast global growth of little more than three percent in 2003 and urged the European Central Bank to cut interest rates and Japan to tackle deflation. For full report on major currencies click on [FRX/] For previous updates on currency moves click on [USD/-M]

Budget cutback healthcare poor { April 28 2003 } Buffett forecasts doom California state budget crisis { April 23 2003 } Dollar edges lower { April 9 2003 } Economy feeling sars effect Fed finds lackluster economy Fed rescue plan print money Fleming bankruptcy pain spreads { April 17 2003 } Gold up after war { April 9 2003 } Greenspan for 5th term { April 23 2003 } Jetblue orders 65 airbus { April 24 2003 } Markets red after war Nation jobless climbs { April 17 2003 } Ny mayor ten thousand more layoffs { April 15 2003 } Oil tops 30 barrel { April 17 2003 } Profit warnings hit war enthusiasm States budget shortfall { April 21 2003 } Treasure could face default { April 29 2003 } Files Listed: 18

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