19 March 2002, 10:44 The dollar held a somewhat soft tone at the close on Monday
The dollar held a somewhat soft tone at the close on Monday, down
from morning opening levels, but not necessarily under pressure ahead of
Tuesday's Federal Open Market Committee meeting. The euro-dollar closed
at $0.8825, up from New York opening levels near $0.8791, and dollar-yen
at Y131.28, up from Y131.20. Most traders said there should be little
currency reaction, if as widely expected, the Fed moves to a neutral
bias. Analysts point out that the Riksbank would be the first of the
major global central banks to reverse the current easing cycle and begin
to tighten rates. The dollar-Stocky fell from overnight highs just over
Sek10.3800 to New York closing levels near Y10.2750. //MarketNews
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