DOLLAR OF THE USA
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Prospects for dollar are very pitiable
the Dollar remains about an one-monthly maximum to euro at the auctions on Friday after ETSB has not given yesterday clear signals of the further increase of rates. The bank pi it has raised the rate of refinancing to 2.75 % from 2.50 %. Jean-Claude Trishe has noticed, that further monetary and credit policy ETSB will be assumes the further increase of rates, but any terms has not specified "the Market is in long positions on euro, and comments ETSB were softer, than it was expected, that has led to closing of short dollar positions ", - Joseph Kraft from Morgan Stanley has told. He has added, that moods of investors in relation to dollar have raised against expectations of the further lifting of rates FRS in June after statements of representatives of the American Central Bank for intention vigilantly to watch inflationary risks.
Today the markets wait for performances of head FRS of Ben Bernanke and a member of board of governors FRS of Mark Olsona, and also data about trading balance of the USA at 16.30 Moscow time. Analysts predict, that trading deficiency of the USA will grow to $65 billion in April after decrease to $62 billion in March. The dealers interrogated Reuters, say also, that for dollar can put pressure any information on growth of deficiency of the current bill upon two-day meetings of Ministers of Finance "the G8 " which begins on Friday in St.-Petersburg.
At 12.40 Moscow time the euro/dollar bargains on $1.2651 after falling yesterday to $1.2626 on electronic platform EBS when the American currency has risen in price to euro for 1.5 %. The dollar to yen has decreased to Y 113.98 against fixing have arrived after a rise in price of dollar to Y 114.74. According to senior analyst National Australia Bank in New York Michael Jansena, the dollar/yen course will fall more low Y 110.00 to yen, and the euro will rise above $1.30 within the next three months. "prospects for dollar are very pitiable, - he speaks. - the trading balance moves to one party, and each time think, that data on foreign trade will appear even worse, than it was expected ".