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Politics : Formerly About Applied Materials

AMAT 322.54

+6.8%

2:35 PM EST

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To: Proud_Infidel who wrote (50306)	8/9/2001 11:04:24 AM
From: michael97123	Read Replies (2) of 70976

Is this good or bad? Thursday August 9, 10:59 am Eastern Time Dollar drops to to 3-month low vs euro NEW YORK, Aug 9 (Reuters) - The euro rallied to a three-month high against the dollar on Thursday as the greenback extended losses sparked a day earlier by a downbeat Federal Reserve report on the U.S. economy. The euro pushed as high as 88.89 cents , its highest since May 10, according to Reuters data. Traders said the 88.80-88.90 cent area offered tough technical resistance for the single currency, and technical analysts said a convincing break could open the way to gains above 89 cents. Dealers said euro gains against the Japanese yen and sterling helped propel the currency higher against the dollar in thin market conditions. The Fed's 'beige book' report on Wednesday indicated the world's largest economy was very sluggish in June and July and that manufacturing weakness had begun to infect the broader economy.

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