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Dollar edges upward as rate cut view eases

Discussion in 'Forex Daily News & Outlook' started by prav, May 23, 2007.

  1. prav

    prav Moderator
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    The Dollar traded near six-week highs against the Euro and a three-month peak against the Yen on Tuesday as trader s further trimmed expectations of a Federal Reserve interest rate cut this year. Investors also focused on the first day of a two-day meeting between US Treasury Secretary Henry Paulson and Chinese vice Premier Wu Yi in Washington. Paulson warned the Chinese delegation Washington was growing increasingly impatient for Beijing to speed up policy changes that would help narrow the record US trade deficit. The Euro has fallen more than two cents from its record high against the Dollar as speculators reduced bets on a further strengthening in the Euro-zone currency, which had swelled to a record high last week by one industry measure.


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