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.

Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (18896)	3/20/2009 7:24:59 AM
From: RockyBalboa	Respond to of 71452

Euro erases gains vs dlr on EU plan, profit-taking LONDON, March 20 (Reuters) - The euro erased gains against the dollar after hitting a session high above $1.37 on Friday, on concerns about weaker euro zone members and a possible plan to help them from going bust. The euro was flat at $1.3670 after rising to $1.3727 , according to Reuters data. It had hit a high of $1.3737, the highest since early January, on Thursday. Euro zone countries have agreed a rescue plan to prevent members of the currency bloc going bankrupt and will probably use it, with Ireland and Greece the top candidates for aid, a senior German lawmaker said. "I guess it did (hit the euro) to an extent," said a trader in London. "I think it would possibly react more if markets knew which member, and how much." Traders said the euro was also pressured by profit-taking after gaining some six percent this week. The euro had risen sharply on the back of a broad dollar fall after the U.S. Federal Reserve said it would start buying long-dated U.S. Treasuries and other assets to bolster its ailing economy. ' "It's the end of the week and because there's been a big move higher, people who bought ahead of the FOMC or on the way up, they are going to take a bit of profit," said Adarsh Sinha, a currency strategist at Barclays Capital. (Reporting by London forex desk) ((tamawa.desai@thomsonreuters.com; Tel: +44207 542 8510, Reuters Messaging: tamawa.desai.reuters.com@reuters.net)) Keywords: MARKETS FOREX/