31 August 2001, 14:58 Forex - Euro drifts lower in midday London ahead of Greenspan speech
LONDON (AFX) - The euro drifted lower in midday trade as investors
awaited US Federal Reserve chairman Alan Greenspan's speech, dealers
said.
"There isn't any particular reason why the euro's coming off its
earlier highs," Halifax economist Nick Mirtchev said.
"It's simply backing up a little after gaining on the weakness of
US stocks. Nothing much has come out of the franco-German summit, and
everyone's waiting to hear what Greenspan has to say," he said.
Dealers said volumes are so light that the market could turn
volatile this afternoon ahead of a long weekend in the US.
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