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THE WINDY CITY TRADER
P.O. Box 1673, Chicago, Illinois
800-443-2360

(March 12, 2002) CURRENCIES: The U.S. Dollar broke nearly 200 points while the Euro advanced nearly 150 points since then. I look for the June dollar to reach 116.00 during the next few weeks as the Euro pushes to 8930 and maybe 9000. The Canadian Dollar has officially bottomed as well so look to buy into dips there. I would not be surprised to see a move above 6600 by late summer. The pound and Swiss are now buy into dips market and deep pocketed traders can take a buy and hold posture there because if there is further down side for those two, it will be shallow and very short term. I'm not sure what to make of the yen. Obviously, their economy hasn't corrected itself in 1-2 weeks that the yen has been advancing, but this up turn looks more like a positive reaction to obvious improvement in the U.S. economy so I would be careful of shorting the yen even though it has rallied about 400 points of late.

William Frejlich

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