Alaron Currency Comment

CHICAGO - Jul 14/08 - SNS -- Following is the currency futures comment from Alaron Trading Corp.

The DX opened higher at 72.48 and rose to a morning Hi of 72.53 after Sec.Treasury Paulson reassured financial markets that  the two largest private mortgage lenders, FNMA and FHLMC would receive help from the U.S. Treasury Dept. Prices retraced to a morning Lo of 72.215, as we head into the afternoon session.    

The BP opened higher at 1.9790, slid to a morning Lo of 1.9780 and rallied on DX weakness to a morning Hi of 1.9837. Prices slid lower into the afteroon session as central bankers key on the DX.

The CD opened higher at .9900 and dipped to .9897, before following most other major foreign currency markets higher as the DX retraced early gains on concerns of the two largest private mortgage lenders, FNMA and FHLMC. Prices rose to a morning Hi of .9949, before sliding into the start of afternoon trading.

The EC opened lower at 1.5797, dipped to a morning Lo of 1.5794 and rebounded to a morning HI of 1.5863 on DX concerns. Prices slid into the afternoon session as markets adjust to the U.S. mortgage bailout plan.

The JY opened lower at .9404 and rose to a morning Hi of .9450 on DX weakness. Prices retraced along with weaker U.S. equity prices as we approach the afternoon session.

Bob Kozak

Alaron Research Team

800.462.4691

bkozak.com

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