Market static as uncertainty rules

The euro held at around $1.08 for much of the week, but rallied on Friday (February 21) after economic data raised concerns over the impact of a war in Iraq on the sickly US economy. Analysts said many investors were remaining on the sidelines amid the continued uncertainty and confusion.

"A lot of speculative dollar positions have been trimmed back," Will Rugg, senior currency analyst at MMS International in London, told FX Week. "Investors are sitting on their money waiting to see how the w