Treasury - Daily Forex for day 07.06.2004

...the market. April's figure was also revised sharply higher, to 346,000 from initially reported 288,000. All economists on Wall Street polled by Reuters after the jobs report predicted that the Fed would raise interest rates by 25 basis points from 1% at the upcoming monetary policy meeting at the end of June. But it seems that the market has already priced in a dollar-supportive 25bp rate hike and the currency is now pulled down by factors like huge U.S. current account deficit, high oil prices and geopolitical concerns. Next focus for the market will be Friday's data on U.S. producer prices and the University of Michigan's consumer sentiment.

The crown pulled back from its one-year highs against the euro on Friday, following the depreciation of other currencies in the region. Despite this retreat, the crown was 1% stronger to the euro over the last week.