Hi, traders! Dollar rose against euro and yen after the news of Fargo Well's gains. Kazuyuki Kato, a currency trading manager in Tokyo at Mizuho Trust & Banking Co said: "The trend of a weaker dollar won't change. With the US economic outlook deteriorating, I do not expect any rate hike by the Fed this year.''

Fed Chairman, Ben Bernanke sent jitters in the forex markets after he said that they may intervene in how dollar is traded. This sparked off a buying spree in the market yesterday.

But another strategist of Bank of Mellon, Michael Woolfold, said: "The first responsibility of any central bank is price stability. The Fed will eventually sacrifice growth to curb inflation, even if growth looks poor.

The euro was 0.6 percent weaker at $1.5817. The dollar was up 0.3 percent at 105.01 yen.

Cheers! ;)
Daniella