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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Henry Volquardsen who started this subject	12/25/2000 7:16:07 AM
From: friverola	of 3536

Euro soars By Financial Times fxstreet.com Monday December 25, 2.000. Fears that the euro's recent rally might be just another false dawn were melting away on Friday as the currency once again charged higher on the foreign exchange markets. The last day of trading before Christmas - generally lethargic - was unusually active. The euro - which many had expected to pause for breath after several strong sessions - continued to power higher. The long-suffering euro pushed back over $0.92 for the first time since August, touching a five-month high against the pound and a nine month peak against the yen. "What we are seeing is an unwinding of the investment themes of 2000 - a year dominated by the rise in oil and the dollar," said Avinash Persaud, head of global research at State Street, the Boston-based investment bank. A sense that the euro's woes were finally over was also reflected in the derivatives markets, where euro calls were more in demand than euro puts. But analysts said that the euro's rise was still more a reflection of flagging confidence in the US and Japanese economies than of optimism over Europe itself... fxstreet.com

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