Treasury - Daily Forex for day 01.12.2004

...Trichet reiterated that the recent upward move of the euro was not welcome, but it is up to the U.S. to improve their economic fundamentals. Neither U.S. data out on Tuesday were much encouraging. The Conference Board reported its index of November consumer confidence fell to an eight-month low of 90.5 from 92.9 in October. The result was also well below expectations of the 96.5 reading. The National Association of Purchasing Management for the region of Chicago said its index of manufacturing activity dropped to 65.2 in November from 68.5 the prior month. Earlier, the dollar ignored the first revision of the third-quarter U.S. gross domestic product, which showed the economy rose by 3.9%, slightly faster than market forecast of a 3.7% expansion.

The Czech currency was trapped in a narrow band, near 31.0 per euro level for the second consecutive day on Tuesday ahead of the key government's decision on the Cesky Telecom sale later today.