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Wednesday, June 25, 2008

USD Sticks To Narrow Range Ahead Of FOMC

1210 GMT [Dow Jones] USD declined slightly against the euro but rose versus the yen, staying within a narrow range ahead of the FOMC interest rate announcement, scheduled at 2.15 p.m. EDT. Even hawkish remarks from ECB president Trichet only gave the euro a slight boost. But before the FOMC meeting closes, the market will also take notice to the release of May durable goods at 8.30 a.m. EDT, followed by May new home sales at 10 a.m. EDT. Wed morning in NY, EUR/USD was at 1.5590 from 1.5572 late Tue, while USD/JPY was at 107.96 from 107.79. EUR/JPY was at 168.33 from 167.86 late Tue, according to EBS. GBP/USD was at 1.9723 from 1.9697, and USD/CHF was at 1.0403 from 1.0412. (YUS)

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(END) Dow Jones Newswires

June 25, 2008 08:11 ET (12:11 GMT)

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