Treasury - Daily Forex for day 30.10.2006

The dollar extended its fall against a basket of major currencies on Friday, weakening to three-week lows against the euro after a report showed the U.S. economic growth decelerated more than expected in Q3. The Commerce Department's first estimate of GDP showed the economy rose just 1.6%, the lowest growth in over three years, down from 2.6% in Q2. The market had forecast a 2.2% expansion. A strong reading of October University of Michigan's consumer confidence released later did little to reverse the dollar's fall.

The Czech crown was barely changed on Friday and opened steady this morning after weekend's runoff elections for the Senate ended with strong victory of the rightist Civic Democrats, boosting ODS leader Topolanek's calls for an early vote for a new parliament.