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Pastimes : Kosovo -- Ignore unavailable to you. Want to Upgrade?

To: Yaacov who wrote (5206)	4/23/1999 5:00:00 PM
From: goldsnow	Respond to of 17770

Again would be "interesting" to see how NATO would try to interdict Russian Ships (undoubtedly with armed commandos on board) he European Union earlier announced it was banning deliveries of oil and oil products to Yugoslavia from next week with the exception of supplies for humanitarian use. Analysts believe an oil embargo would increase tension with Russia. news.bbc.co.uk

To: Yaacov who wrote (5206)	4/23/1999 6:57:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 17770

Dollar ends US mixed as Kosovo, G7 captures attention NEW YORK, April 23 (Reuters) - The dollar rose against Europe's single currency on Friday as hopes for a speedy solution to the Kosovo conflict faded and traders were reluctant to take on new risk before key global meetings. The dollar lost ground against the Japanese yen. Following a well-set pattern, currency traders mostly eyed the Balkan crisis for trading clues but became newly disillusioned with the prospect for peace on Friday afternoon. Although Yugoslavia's offer for a deal on Kosovo had already been rejected, traders initially wanted to hold euros for fear of sudden improvement in the situation. When NATO leaders, meeting in Washington to commemorate the alliance's 50th anniversary, added an oil embargo to the five week-old air war, dealers felt newly disillusioned that a compromise may be worked out soon. ''People had thought there could be some sort of breakthrough and now there is less hope for that,'' said Commerzbank trader Greg Schwake as the dollar gained some ground in sluggish late-afternoon dealings. At the close, euro/dollar was at $1.0615/25, down from the $1.0636/38 open as well as the session's $1.0683 high. But dealers were confident new lows would not be set immediately. Traders said they were wary of staking out new positions and pushing the dollar aggressively higher or lower against any currency before finance ministers and central bankers from the world's seven leading industrialized nations meet on Monday. U.S. Treasury Secretary Robert Rubin already warned the group's joint statement would probably be ''so elliptical as to offer no guidance to anyone.'' And Japanese Finance Minister Kiichi Miyazawa backed this view by saying the group would discuss currencies as usual but would neither approve nor disapprove of current levels. Still dealers wanted to take no chances. ''Basically we are just caught in range with no one willing to do much of anything,'' Schwake added. If leaders do not throw the euro a lifeline, analysts said more euro sales are in order and the currency could quickly aim for $1.0500 after having set a life-time low at $1.0564 on Thursday. ''Growth numbers in Europe, and not just in France and Germany, but in other countries are simply not looking very good,'' Barclays Capital senior economist Henry Willmore said. The longer the Kosovo conflict drags on, the more of a drag it may become on growth in the 11-nation euro zone. The currency market paid only modest attention to Wall Street's performance as the Dow Jones industrial average, fresh from a string of record high closes, ended 37.51 points lower at 10689.67. Traders also ignored a spate of comments from senior Federal Reserve officials. Fed governor Edward Gramlich said the central bank does not target the unemployment rate or the stock market in setting interest rates. Trading in the yen was similarly sluggish with even fewer new factors, traders complained, adding they looked mostly to technical charts for guidance. In other trading, the British pound inched up to $1.6152/62 from $1.6147/52 while the dollar nudged higher against the Swiss franc to 1.5083/93 from 1.5055/65. The dollar lost ground against the Canadian dollar, slipping to C$1.4754/64 from C$1.4790/00. The Australian dollar closed at $0.6512/22, down slightly from $0.6525/30. biz.yahoo.com