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Strategies & Market Trends : The Options Box

QQQ 623.28

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Nov 5 4:00 PM EST

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To: hobo who wrote (10477)	4/18/2001 7:45:07 PM
From: hobo	Read Replies (1) of 10876

Currency News (from Schwab's e-mail) U.S. DOLLAR LOWER AFTER FED RATE CUT The U.S. dollar ended lower on Wednesday following the Federal Reserve interest-rate cut of 50 basis points to a federal funds target of 4.50%. The surprise timing by the Fed caused choppy intraday foreign exchange trading conditions. It may take another day or two before the market gives its final verdict on the dollar. Early in the session the dollar had firmed against the euro in a continuation of the previous day's bias, but the Fed's announcement led to a choppy shakeout and partial recovery in the euro. The dollar had weakened early against the yen due to gains in Japanese stocks as well as yet another set of comments out of Japanese officials stating that they are not attempting to drive the yen lower. Following the Fed's announcement, the dollar stabilized at the lower levels.

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