Treasury - Daily Forex for day 13.07.2007

The U.S. currency fell to a new record low of $1.3799 per euro on Thursday as concerns over U.S. subprime mortgage market continued to weigh on the dollar's sentiment. The economic data showing U.S. trade deficit, as expected, widened to $60 billion in May from revised $58.7 billion in April was largely ignored by the currency markets.

The Czech crown continued to advance to six-week highs against the euro on Thursday, extending its gains to almost 2% from its last week's multi-month lows. The crown's rally can be attributed to unwinding carry trades in the light of growing risk aversion on global markets.