Treasury - Daily Forex for day 03.05.2007

The euro rose slightly against the dollar on Wednesday after a source told Reuters that euro zone finance ministers do not seem concerned about the strength of the single currency. With an absence of market-moving data out of the U.S., the economic reports from the euro zone brought mixed signals on Wednesday. The Purchasing Managers' Index measuring manufacturing activity held at 13-month low of 55.4 in April, below a concensus forecast of a rise to 55.7, while the unemployment rate dipped to 7.2% in April, the lowest level since 1993.

The Czech crown firmed marginally versus the euro yesterday but remained in a tight range near 28.15 to the euro.