Treasury - Daily Forex for day 24.01.2005

The U.S. dollar depreciated against its main rivals on Friday, undermined by profit-taking and a weaker-than-expected U.S. consumer confidence report. The University of Michigan reported its consumer sentiment index dropped to 95.8 in January from a December's 97.1 reading. The market had forecast an increase to 98.0. Statements from several Federal Reserve's officials suggested that U.S. inflation would remain in check, while the Fed would maintain the current pace of rate hikes.

The crown closed Friday's trade slightly stronger versus the euro, recovering from an early drop as low as 30.370 to the single currency. Trading activity was low, with the market lacking any impulses.