Friday December 31, 2004 - 00:38:49 GMT
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FX-Strategy - www.fx-strategy.com
Forex: General Market Conditions 31st December 2004
We come to the end of the week, month and year with the Dollar making new lows across the board and broadly in line with the bearishness we have maintained for the past few weeks. We do feel this is not too far away from a larger Dollar low but there is still some to go and there should be further weakness demonstrated today - probably within fairly illiquid markets.
Yesterday saw the Dollar register new lows against the Euro and Swissie although the Yen and Pound have lagged slightly. Never-the-less we look for some initial ranging but we feel the greater risk today is for further losses to be seen with Dollar supports seen at 1.3698 and 1.3745 Euro, 1.1247 & 1.1207 Swissie, 1.9309 & 1.9339 Pound and 102.52-68 Japanese Yen. However, it seems likely this will not be in a straight line and thus be careful of a choppy day.
May we wish all readers an excellent weekend and best wishes for a prosperous, healthy and peaceful year ahead.
(c) FX-Strategy Inc 2004
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