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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: stomper who wrote (3916)	5/24/2001 2:54:50 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

I agree with you ....here is FX summary for yesterday: FXSummary: Pretty exciting day in the currency market as euro/dollar fell to fresh six month lows, plunging all the way down to $0.8549 at one point. Not to be outdone, euro/yen fell to new five month lows on the back of reports of continued long liquidation out of Japan. The euro/yen selling weighed heavily on dollar/yen, which fell to levels not seen since early March. Sterling suffered from the pressure on the euro, slipping to one-week lows against the greenback. However, sterling continued to outperform the single currency, with the euro/sterling cross hitting 5-month lows. Not surprisingly, the carnage in the euro weighed heavily on the Swiss franc, as dollar/franc pushed to levels not seen since late November. Euro weakness also hit the Aussie, which fell for the third straight session with help from another pullback in gold. The lack of enthusiasm surrounding the reflation trade also pressured the loonie, while the Brazilian real was hit by expectations that the central bank would raise interest rates for the third time in three months.