Treasury - Daily Forex for day 24.07.2005

The dollar slid from 14-month highs against the yen, 19-month peaks against the British pound and also weakened against the euro yesterday after the market failed to hear anything new from Federal Reserve Chairman Alan Greenspan in his congressional testimony. Greenspan suggested that U.S. interest rates would continue to rise and the economy is expected to fare well. However, he also warned against significant uncertainties such as high energy prices and speculative moves in U.S. housing market.

The Czech currency fell moderately versus the euro in a calm trading on Wednesday, getting a direction from the Polish zloty.