Bad equities news spells dollar trouble

- By FX Markets Staff
- @FXMarkets_
- 24 Jun 2002

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The turning tide against US asset markets saw the US dollar punished last week, says Stacey Seltzer, FX economist at Brown Brothers Harriman in London

The dollar has backpedalled for the past several months, and this week saw an acceleration of the trend.

On Monday (June 17), however, it looked as if the dollar may have had a chance to recover some ground. It opened against the euro at $0.9450 and as US equities recovered from Friday’s savage sell-off, it pressed the euro down to a low of $0.9413

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