Treasury - Daily Forex for day 22.06.2005

The dollar firmed further against the euro in early European trade on Tuesday after a surprisingly aggressive interest rate cut by the Swedish central bank fueled speculations that the ECB might also ease the policy. Sweden's Riksbank cut interest rates by 50 basis points to a new record low of 1.5%. In late New York session, the dollar got rid of all of its previous gains against the euro. Technical factors and record high oil prices were weighing on the greenback.

In the absence of any economic data, the Czech crown edged higher to near six-week highs against the euro on Tuesday. The currency last traded at 29.910 to the euro.