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Forex Pub Report, November 24, 2006 |
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The dollar plunged to a 19 month low against the Euro and a 2 year low against the British Pound today. The fall was precipitated by an equally large move yesterday as volume was light due to the US Thanksgiving holiday. Experts are split on whether this run on the dollar bears can be sustained once normal trading resumes on Monday. Some feel the dollar weakness is bound to continue as data is increasingly weak from the US. Others feel that this recent fall was really more due to speculation than fundamentals or technical data. This latter view finds it might be hard for the dollar weakness to continue much past the 1.31 level. Good luck with your trading next week--it's going to be interesting!!!
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