Treasury - Daily Forex for day 19.06.2005

The dollar was mostly flat against the euro at the end of Thursday's New York session, with a soft U.S. regional business survey having a short-lived negative impact on the U.S. currency. The Philadelphia Fed's business outlook survey for June came in at -2.2, much below economists' forecasts of 10.0 and the first red reading in 25 months. Other U.S. economic data showed that jobless claims rose to 333,000 in the latest week, slightly above market expectations for 330,000. The euro seems now under political pressure with European Union leaders gathering in Brussels to reach an agreement on the EU budget and on the future of a new EU constitution.

The Czech crown traded on the stronger side of the 30.0 per euro level yesterday, shadowing moves of other currencies in the region. The market took little notice of a report showing a higher-than-expected April current account deficit. The gap amounted to 3.28 billion crowns, double the market forecasts, after a revised 4.1 billion surplus in March.