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Head for the dollar, says market
Carolyn Cohn
London, Jan 23: Don't let the small matter of a sex scandal involving the United States president deter you -- many in the foreign exchange market say this could be a good time to buy the dollar.The dollar, depressed by allegations about president Bill Clinton, dropped to three-week lows against the mark on Thursday. But dealers said the fundamental attractions of the dollar, which has a vibrant economy behind it, outweighed the potential impact of the Clinton story. "The Clinton allegations have definitely had an impact on the dollar overnight," said Stephen Yorke, deputy head of economic research at SBC Warburg Dillon Read in London. "It's possible the story may continue to weigh on the dollar in the short term, but these are buying opportunities," he added.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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