Treasury - Daily Forex for day 10.07.2007

The dollar was barely changed against the euro in a calm session yesterday, with Friday's surprisingly strong report on U.S. non-farm payrolls failing to reverse the negative sentiment towards the U.S. currency. Expectations that the Federal Reserve will hold interest rates steady in the remainder of this year while central banks in Canada, the euro zone, UK and Japan will continue to tighten monetary policy have kept the dollar under pressure.

The Czech crown recovered from an earlier drop on Monday to close the session flat against the euro. A larger-than-expected 6.9 billion crown foreign trade surplus for May had little impact on the trade.