A dip was taken by the greenback as profit-taking happened from last week after earnings. Dealers could be that the dollar is overvalued contemplating the strength in the face of Friday's weak job report of that the currency . Economists had anticipated over twice as many jobs to be made in May. Relative to the dollar, the euro is at $1.2272, despite the current low of $1.2154. The US jobs report did result in a brief spike from the euro to $1.2339, only to immediately slip back to $1.22 lower interest rates continue to be impending for the euro zone. Such cuts could cause a growth in the dollar against the euro on account of the rate of interest gap. Meanwhile, against the yen the dollar struck 106.74 and outside analysts think USD/JPY has ample room to grow in the not too distant future.
Poland's finance minister Miroslaw Gronicki recently declared the possibility of issuing euro- and - dollar-denominated bonds in 2005. This past week, Poland is expected to concern about $ 464 million value of debt. Such bonds, also referred to as Samurai bonds, are very popular with Western investors looking for higher yields than those accessible via bonds issued by the Japanese authorities (returns on 10 year government bonds in Japan are at 1.240 percentage). Poland now is in debt with Japan for around $1.20 billion.
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