Alaron Currency Comment

CHICAGO - Jun 16/08 - SNS -- Following is the currency futures comment from Alaron Trading Corp.

The DX opened lower at 74.16 and retraced to a morning Lo at our secondary Support level of 73.86 after a weaker than expected NY State Mfg. Survey showed a decline of 8.68 v the expected decline of -1.0 points. Higher oil prices and a non-commital G-8 meeting weighed on prices. The DX bounced higher as we approach the afternoon session.

The BP opened higher at 1.9504 after a stronger than expected increase in the May Inflation data. Prices rose to a morning Hi of 1.9557 against the weaker DX, before sliding to 1.9506 as we head into the afternoon session.

The CD opened higher at .9714 and rose against the weaker DX and higher oil prices to .9793 as we approach the afternoon session.

The EC opened higher at 1.5391 after a stronger than expected EZ CPI report showing inflation accelerated to 3.7% in May, the highest level in 16 years. A weaker DX and higher oil prices continues to pressure the ECB to seek another rate hike as early as July. Prices rose to a morning Hi of 1.5452, before drifting to 1.5413 as we begin afternoon trading.

The JY opened lower at .9290 and rose to a morning Hi of .9318 on DX weakness, before sliding to .9297 as we approach the afternoon session.

Bob Kozak

Alaron Research Team

800.462.4691

bkozak.com

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