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(March 8, 2002) CURRENCIES: The June U.S. dollar index gained 119 points to close 11847, still below recent highs but gains prompted by the stronger than expected U.S. economic data. The real story can be found in the basic thesis that high U.S. interest rates attract dollar investments. The Yen finally managed to "turn the corner" but reversed much of Thursdays gains with the June yen losing 105 points to 7816. The June Swiss Franc slipped back from earlier gains this week to close at 5928 down 74 points but still maintaining it's "favored currency status" with us.

John L. Caiazzo
www.acuvest.com
E-mail: futures@acuvest.com

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