Eastern European Currencies Mixed Versus Dollar, Monday, August 06, 2007 7:30:43 AM
Eastern European currencies were mixed versus the American dollar Monday morning in New York. The Hungarian forint gained ground against the greenback, while the Russian rouble fell. Meanwhile, the Polish zloty was involved in largely choppy trading with the buck. Greenback traders looked ahead to Tuesday`s Federal Reserve rate decision, which is expected to remain at 5.25%.The Hungarian forint rose versus the dollar Monday morning in New York. After uncertain early morning trading, the Hungarian currency began to advance just before 4:00 am ET. At 7:09 am, the forint traded at a mark of 181.7800. This is compared to an intraday low of 182.6100 at 3:30 am.
The Russian rouble edged lower against the greenback Monday morning in New York. The Russian currency experienced uncertain trading before falling just after 6:00 am ET. At 7:19 am, the rouble traded at a mark of 25.4620 against its American counterpart. Traders considered data showing that Russian inflation was up 0.9% on month in July.
The Polish zloty experienced choppy trading with the dollar Monday morning in New York. At 7:22 am ET, the Polish currency traded at a mark of 2.7403 against its American counterpart. This is compared to an intraday high of 2.7338 at 6:10 am and an intraday low of 2.7462 at 2:00 am. Traders considered a statement from Polish central bank head Slawomir Skrzypek. He said that inflation in Poland probably will not exceed 3.5% during the next two years.
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posted by Kalin Tasev @ 5:29 AM
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