Treasury - Daily Forex for day 10.08.2004

...focusing on the Federal Reserve policy meeting late Tuesday. Concerning fed fund rate's forecasts, all economists polled after Friday's jobs data predicted the central bank would hike by a quarter point to 1.5%.

The Czech crown posted further gains versus the euro on Monday, boosted by expectations that the CNB could again raise interest rates as early as this month. The crown was also helped by positive mood in other central European markets, with the Slovak crown and the Hungarian forint extending gains against the single currency. The unemployment rate rose in July to 10.1% from June's 9.9%, but the increase was lower than expected. Applying a new Eurostat's methodology, the rate was just 9.2% in July.