Treasury - Daily Forex for day 27.08.2007

The U.S. dollar fell sharply against its main rivals on Friday as a renewed buying of riskier overseas assets offset upbeat economic data out of the U.S. July durable goods orders showed the biggest rise since last September, while sales of new homes rose 2.8%, with both figures beating forecasts. The euro showed its largest weekly gain against the dollar since mid-March as international markets stabilized somewhat following financial turbulance earlier this month. The European single currency briefly gave back some of its gains versus the dollar after central bank sources told Reuters the ECB is not necessarily committed to tightening policy in September.

The crown dipped slightly against the euro on Friday, retreating further from a 7-1/2-month high of 27.460 hit more than a week ago as concerns on global financial turmoil eased.