Foreign Exchange Daily Updates - Archive

Below is the foreign exchange market updates (April 07 2003).

Note: The weekly foreign exchange updates give you a foreign exchange expert trader's view of the volatile foreign exchange markets. It is a great source of insight into the complexities of foreign exchange rates and issues. It is a valuable source of information with respect to the factors that affect foreign exchange rates at the macro level.

Visit www.Cambridgefx.com daily and stay up to date on factors that affect foreign exchange rates. Follow these links to see the latest key currencies, US exchange rate and Canadian exchange rate

Foreign Exchange Market Update:

World stocks take off as Baghdad starts to fall.

Market Update: Monday, April 7, 2003

The US Dollar again strengthened over the weekend, with the news that coalition forces had moved into Baghdad. With stock futures indicating that the Dow will open up over 200 points the Dollar has made new highs against the Swiss Franc and the British Pound since the war began and is close to its best recent level against the Euro.

The Dow will determine the Dollars direction for the rest of the day as both will react from every news bite out of Iraq.

The war and its perceived success compared to expectations should remain the principal market driver followed by the geopolitics associated with the war and economics will take a back seat.

With daily foreign currency volatility continuing to be higher than usual, some currencies lost as much as 1 ½% overnight, please call your foreign exchange market advisor for the latest analysis.

Currency ranges for today:

EUR/USD 1.0500 - 1.0680
USD/CAD 1.4740 - 1.4950
GBP/USD 1.5420 - 1.5590
USD/CHF 1.3930 - 1.4080
USD/JPY 120.20 - 121.80
USD/MXN 10.50 - 10.80