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24 January 2001 09:27   The dollar crept higher vs most currencies as U.S. equities continued to hold their gains.


With dollar currency movements frequently paralleling rallies and declines in the equity markets, traders are quick to point out the symbiotic relationship between the two. Traders see little likelihood of any significant move in currencies ahead of Federal Reserve Bank Chairman Alan Greenspan's speech before the Senate Budget Committee at 10:00 a.m. EST Thursday. "The world seems to be comfortable with the notion that the Fed is in control," said Jim McCormick, Foreign Exchange strategist at JP Morgan Chase, commenting on the options for the Fed. McCormick said, "A 25 point cut would disappoint the market and would likely send the dollar lower."
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