WORLD FOREX: Euro Extends Losses, Drops Below $1.3650
"The Lack Of Details, and it seems that everything is going to be delayed until the Finance Ministers (meeting) next week, is just the worst of all worlds for markets, so stocks and the euro are taking a hit," says Jeremy Stretch , senior currency Strategist at Rabobank International in London.
Thursday morning, the euro is at $ 1.3638 from $ 1.3734 late Wednesday, according to EBS via CQG. It was at Y122.31 from Y123.56. The dollar was at Y89.70 from Y89.96. The pound was at $ 1.5591 from $ 1.5593, while the dollar was at CHF1.0751 from CHF1.0677.
The ICE Dollar Index, Which tracks the dollar against a trade-weighted basket of currencies, was at 80.287 from 80.027.
The euro is declining Because investors were looking for a specific statement on Greece from the EU Summit is the country's problems, and nothing specific has emerged, said Brian Kim, Currency Strategist at UBS in Stamford, Conn.
"I think the market is really looking for specifics, and in the absence of any specifics, there really is not anything much else to digest," said Adam Cole, chief currency Strategist at RBC Capital Markets in London.
"For the last three or four days, we've had the general message there would be support for Greece, and the fact we're seeing that again does not really add anything," he said.
The Australian, New Zealand and Canadian dollars rallied on the New Data Showed the unemployment rate in Australia fell sharply in January Thurs 5.3%, its lowest levels since February last year.
The currency market Showed little immediate impact from news that U.S. Initial claims for jobless benefits fell 43.000 to a seasonally adjusted 440.000 in the week ended Feb. 6.Read More Story,http://online.wsj.com/article/BT-CO-20100211-709919.html?mod=rss_Currencies
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