Friday, October 22, 2004
The AP reports that at close of trading the dollar was sagging—
- yen — 4-month high
- euro — 8-month high
- Swiss franc — 8-year high
- Canadian dollar — 12-year high
Of the major currencies, only Tony Blair's pound dropped slightly against the dollar.
As widely traded currencies broke loose of ranges that had bound them since the spring, many banks downgraded their outlooks for the dollar during the week, including UBS, BNP Paribas, Barclays, Bank of America and CSFB.