Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	12/15/2003 6:56:37 AM
From: elmatador	Read Replies (1) of 74559

Dollar's Saddam-based gains short-lived By Jennifer Hughes in London Published: December 15 2003 8:54 \| Last Updated: December 15 2003 8:54 The dollar made strong gains in Asian trade as investors bet the capture of Saddam Hussein would lower the geopolitical risk weighing on US assets. But the US currency had drifted lower by European trade as the economic fundamentals behind the dollar's slide came to the fore once more. The euro dropped sharply in early Asian trade to $1.2134 from $1.226 late on Friday. But as European trade gathered pace, the single currency was at $1.221. Analysts said the market had taken the news of Mr Hussein'a capture in its stride, and had heeded the warnings by the Us and the UK that this did not mean the end of oppositions to Allied occupation in Iraq. news.ft.com

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