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24 August 2001 18:46  US FX Daily Outlook: Dollar up on pre-weekend short covering


By Cornelius Luca
New York, Aug. 24 (BridgeNews) - The dollar opened the U.S. session in positive territory versus its major counterparts as traders have adjusted positions ahead of the weekend and the release of the U.S. July durable goods orders. The greenback will likely remain range-bound following a choppy trading week.
The dollar reversed Thursday's losses versus the euro, yen, Swiss franc and Canadian dollar, but remained largely within recent ranges. Sterling/dollar declined to a one-week low of 1.4413. The European currencies remain overbought against the dollar, while the key levels for dollar/yen continue to border at 119.65 and 121.05.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 120.25 119.86 0.39 119.55 120.37
EUR/USD 0.9108 0.9150 -0.0042 0.9096 0.9167
EUR/JPY 109.53 109.68 -0.15 109.31 109.75
GBP/USD 1.4426 1.4468 -0.0042 1.4413 1.4480
USD/CHF 1.6680 1.6613 0.0067 1.6571 1.6698
USD/CAD 1.5417 1.5396 0.0021 1.5398 1.5420
AUD/USD 0.5300 0.5340 -0.004 0.5294 0.5357
NZD/USD 0.4376 0.4410 -0.0034 0.4379 0.4425
SP.1 1169.40 5.90 1165.00 1172.70
ND.1 1527.50 25.50 1515.50 1540.00
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