Profit takers move to send dollar higher

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Article Title Profit takers move to send dollar higher.

Author Jennifer Hughes

Source finance times.com; Pub, February 11, 00

Abstract This article is an overview of international trade and foreign exchange. It focuses on the comparison between the dollar and the European country as of this week and mainly the Euro. It also touches the importance of the Fed concerning investment.

As NATO and the UN Security council drift apart over how to deal with the Iraq, the stock exchange is almost pinned against the wall because of running out of ideas to maneuver itself. Despite of these scenarios, the Euro this week fell by .65% against the dollar which also rose 1.47% against the Swiss Franc. Analysts were reluctant to declare this move as the 'rebound of the dollar.' Chris Furness a senior economic strategist said that even if the dollar seemed to have a better start, the rise could be due to a better level to sell.

Investors including those that are sending the dollar high would turn their attention to the Fed's Czar in his biannual appearance to the Senate Committee. This event occurring later during the session is expected to be presented in an upbeat view of the economy. The view is likely to be more optimistic than the Fed's true belief.

Significance of the article to class discussion - The article is concerned with foreign exchange. It shows that the dollar has had a better week than the Euro currency. It also mention the importance of the Federal Reserve testimony had hoe its outcome would affect the economy.

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