Forex
Greenspan sounds cautions against excessive slowdown; euro surges
THE euro continued its bull run this week, rising 2 per cent against the US dollar as concerns of a slowdown in the US economy weighed on the greenback. The Fedreserve Chairman, Mr Alan Greenspan's caution against an excessive slowdown of consumer and bu siness spending in the US, was interpreted by the market as signalling a shift to a neutral stance by the Fedreserve at the next FOMC meeting and possibly a cut in interest rates early next year. The euro benefited from the weak dollar sentiment and rose to a 11-week high of $0.8973 against the dollar and to yen 99.00 against the Japanese currency.

Re stable in dull trading; call steady at 8-8.05 pc
THE rupee closed steady at 46.76/7650 to the dollar in a lackluster forex market on Friday, as against Thursday's close at 46.7550/76.

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