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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (43647)	3/4/2003 6:41:47 PM
From: Haim R. Branisteanu	Respond to of 52237

03/04 18:12 - Dollar Falls to Almost 4-Year Low vs Euro on Snow's Comments By John Brinsley Tokyo, March 5 (Bloomberg) -- The dollar fell to its lowest level in almost four years against the euro after U.S. Treasury Secretary John Snow said he was ``not particularly concerned'' about the currency, which has dropped 20 percent in the past year against its European counterpart. The dollar fell to $1.0964 against the euro at 8:06 a.m., from $1.0925 late yesterday in New York, after reaching $1.0969, its weakest level since March 19, 1999. The dollar also fell against the yen, to 117.28 from 117.65. Speaking to reporters following a hearing before the U.S. House Ways and Means Committee, Snow said, ``the dollar is going to rise and fall.'' The Treasury secretary last month reiterated the U.S.'s support for a strong dollar. Snow's comments show ``that the U.S. is moving away from a strong dollar policy,'' said Paul McNee, chief currency trader at Australia and New Zealand Banking Corp. in Melbourne. ``This is as concrete an example of that as possible.'' The dollar's fall to $1.10 against the euro ``is a foregone conclusion. It should happen today.''