Here's a report from the AFP:
Dollar sags ahead of US economic data
Mon Feb 26, 5:19 PM ET
The dollar traded mainly lower Monday as the market braced for fresh data expected to show a slowdown in the US economy, and monitored tensions over Iran's nuclear ambitions, dealers said.
The euro rose to 1.3185 dollars at 2200 GMT from 1.3170 dollars late in New York on Friday, after earlier reaching a high of 1.3199 dollars, its highest level since January 3.
The dollar fell to 120.59 yen, from 120.98 yen on Friday.
Jordan Eburne at PNC Bank said the dollar was under pressure "ahead of this week's slew of consumer data that is expected to show a slowdown in the US economy."
The market awaited data on consumer confidence and durable goods orders Tuesday, and several reports this week on the housing market.
On Wednesday, US growth for the fourth quarter is expected to be downgraded to 2.3 percent from the 3.5 percent first estimate, analysts predicted.
The market was also affected by concerns about geopolitics, specifically Iran.
"The dollar is facing moderate pressure as players are cautious about holding long positions on the dollar as the Iran situation has become shaky again," said Ryohei Muramatsu with Commerz Bank.
The dollar was hit by renewed concern about Iran as six key world powers grappling to contain the country's nuclear ambitions held talks Monday in London on how to increase pressure on Tehran.
Do you still think Bush won't bomb Iran?
7 comments:
http://www.erudit.org/revue/cgq/2004/v48/n135/011797ar.html
Straits, Passages and Chokepoints
A Maritime Geostrategy of Petroleum Distribution
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http://members.tripod.com/~red_turtle/hormuz.html
NOSTRADAMUS:
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http://www.khaleejtimes.com/Index00.asp
http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/middleeast/2007/February/middleeast_February339.xml§ion=middleeast
Fifth Fleet chief fears “miscalculation” by Iran
(AFP)
21 February 2007
“They (Iranian leaders) threaten to use oil as a weapon, they threaten to close the Strait of Hormuz, and so, it’s the combination of the rhetoric, the tone and the aggressive exercises here in very constrained waters that gives us concerns,” he said.
“In the past year and a half it (Iran) has become much more strident, more vocal and in your face,” Walsh, 52, said.
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http://www.pakistanidefence.com/news/FullNews/2006/May2006/Shaheen2TestFired.htm
A Defence News Network By PakistaniDefence.com
Pakistan Successfully Test Fires Shaheen II, Hatf VI Ballistic Missile
and pics/info
http://www.pakistanidefence.com/Nuclear&Missiles/Pakistani_Ballistic_Missiles.html
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U.S. Navy Buildup Came After Iran Moves
By JIM KRANE
Associated Press Writer
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http://customwire.ap.org/dynamic/stories/G/GULF_US_IRAN?SITE=WIJAN&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2007-02-20-14-35-06
The moves have alarmed U.S. officials about possible accidental confrontations that could boil over into war, and led to a recent build-up of Navy forces in the Gulf, Vice Adm. Patrick Walsh said in an interview with The Associated Press and other reporters.
During maneuvers, Iranian sailors have loaded mines onto small minelaying boats and test-fired a Shahab-3 ballistic missile into international waters, he said.
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The additional U.S. firepower has ratcheted up tensions with Iran. But Walsh said the increase aims to reassure Arab allies in the Gulf and prevent misunderstandings that could escalate into outright conflict.
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Walsh said he was aware that a University of Maryland/Zogby International poll of Arab public opinion this month showed residents of the United Arab Emirates, Saudi Arabia and other allies believe Iran is far less a threat than the U.S. and Israel.
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http://web.archive.org/web/*/http://www.whitehouse.gov
the WayBack machine
yes our government wants Iran
It's breaking my heart.
That's the whole plan. Get us so deep as a nation that it won't matter who or what party is in 'control.'
aka jbenet
yeah, james
i knew the abominable dick wasn't in pakistan to rebuke musaref for not stomping on the taliban
he was there to tell him, "hang on to your turban, boy, it's going to be a bumpy ride"
http://www.globalresearch.ca/articles/CLA410A.html
The Real Reasons Why Iran is the Next Target:
The Emerging Euro-denominated International Oil Marker
by William Clark
27 October 2004
james said...
yes our government wants Iran
It's breaking my heart.
That's the whole plan. Get us so deep as a nation that it won't matter who or what party is in 'control.'
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James is my gramdson's name.
I'm right there with you James. This is really getting out of control and you have these megalomaniacs that are in office to blame for this.
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