Even the ISM index in the
U.S., which showed better results, did not encourage investors. In the
morning at European trading session the dollar strengthened from 1.757 to
1.654 in the afternoon, but it finished at 1.1759. In the U.S. trading the
rate EUR/USD began at 1.1679, but closed at 1.1759. This morning it started
at 1.1644 in Europe and should move in the range of 1.1720 and 1.1800.
Zdenek Safka, Investment Research, CSOB