Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (58775)	1/14/2002 4:27:02 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

FOREX-Dollar cautious as market heeds Greenspan Reuters, 01.14.02, 4:14 AM ET forbes.com By Charlotte Cooper LONDON, Jan 14 (Reuters) - The dollar ceded ground to the euro on Monday as the market heeded Fed Chairman Alan Greenspan's caution that risks remained to the U.S. recovery, while the yen clawed back lost territory from the greenback. With Japan on holiday for the Coming of Age holiday, Asian trade was light, leaving the yen to drift higher against the dollar on the back of last week's shift in tone from Japanese officials that it was nearing appropriate levels. Instead, attention focused on Greenspan's comments, made after the European market had gone home on Friday, that it was "premature to conclude that the forces restraining economic activity here and abroad may have abated enough to allow a steady recovery to take hold". "Greenspan kept up the tone of Fed policymakers talking down market expectations of the pace of the U.S. recovery....It's a way of saying the door is still open (on rate cuts)," said Ryan Shea, senior international economist at Bank One. By 0900 GMT the euro was reliquinshing early gains against the dollar to stand just a fraction up from levels late on Friday at $0.8932 after peaking at $0.8953. The yen however held around a quarter of a percent firmer against the dollar at 131.68, more than two yean above last week's three-year low of 133.37.