>>Tuesday January 19, 3:35 pm Eastern Time
FX IN EUROPE - Tensions for dollar home and away
LONDON, Jan 19 (Reuters) - The dollar swung nervously within a narrow range on Tuesday, eyeing economic prospects in Brazil and Europe and waiting on the words of the U.S. President and Federal Reserve Chairman, analysts and dealers said.
''The bias for the dollar has to be negative,'' said Kirit Shah, chief strategist at Sanwa. ''The dollar can go to 105, or 100 yen.''
Traders sold the dollar in favour of the Swiss franc and yen in European trade, after Brazilian states said late on Monday that they could not meet debt payments due in the coming weeks to the central government.
Warning: part of the article may be missing at this point.
The Dow fell sharply in the late U.S. morning, after rising initially in its first trading session after Monday's U.S. holiday.
The Dow will be seen as a barometer of sentiment towards the newly-floating currency of Brazil, the world's eighth largest economy, analysts said.
Stock markets may also attract the attention of U.S. Federal Reserve Chairman Alan Greenspan, when he testifies on the economy on Wednesday.
''The markets will be looking for any comments Greenspan makes about asset markets,'' said Jeremy Stretch, currency strategist at NatWest Global Financial Markets.<<
daily gains of >2% are easy to take, aren't they? |
