Thursday, April 26, 2007

Eastern European Currencies Come Off Yearly Highs Against Dollar, Thursday, April 26, 2007 9:54:18 AM

The major Eastern European currency saw mild declines against the dollar on Thursday morning in New York, as traders took some profits after the recent rally. The move took the currencies off their recent highs against the greenback.

The Russian rouble began a decline late Wednesday that continued steadily during the first half of Thursday`s morning trading in New York. This reversed gains posted over the past couple days and took the rouble off its yearly high.

The Polish zloty spent morning trading in New York drifting lower against the dollar as well. The decline began in the early morning hours and lasted into the mid-morning. With the retreat, the currency reached a level of 2.7755. The move took the zloty off yearly highs.

The Hungarian forint also declined against the dollar during morning New York trading on Thursday. As with its Polish counterpart, the retreat began in the early morning hours and continued steadily into the mid-morning. The move reversed some gains posted earlier in the week, as the forint came off its yearly highs.
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