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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (46551)	8/20/2003 9:11:15 AM
From: MulhollandDrive	Respond to of 57110

Euro nears four-month dollar low as charts eyed By Rachel Koning CHICAGO (CBS.MW) -- The euro hovered at near-four-month lows on the U.S. dollar Wednesday. Forex participants were betting a U.S. economic recovery is likely to take shape before a euro-zone recovery. Data showing a contraction for the French economy in the April-June quarter added to the sentiment pressuring the euro. Euro/dollar was recently down 0.2 percent at $1.1108. Currency traders said the $1.1050 mark was a technically significant point of support for the cross, but a break of this line would likely trigger a flurry of sell orders. The next significant downside barrier lies at $1.10 and a move below here would turn the charts bearish, they said. Dollar/yen eased 0.1 percent at 118.26 yen. The sterling gained 0.5 percent on the greenback, last at $1.5941.