51. Traders said most banks and commercial clients were staying in the sidelines and holding off substantial dollar purchases until the peso-dollar rate stabilizes. 52. Time is running out fast and even financially sound companies are now reaching the point where dollar purchases at the prevailing market rates are outright prohibitive. 53. CitiBank said it had set limits for dollar purchases as demand had been so high. 54. Dollar purchases increased in afternoon trading after cross-trading involving purchases of German marks slowed down, said trader Paul Farrell from Chase Manhattan Bank. 55. Dollar purchases were largely limited to individuals, with major operators anticipating a central bank intervention would lower the price of the greenback later in the week. 56. They said the US central bank had managed to sow fear of intervention after big dollar purchases it made on Wednesday and Thursday to support the weak greenback. 57. US-affiliated funds and banks led dollar purchases in Tokyo after the US National Association of Purchasing Managers announced a high output index overnight, dealers said. 58. The dollar was up against the major currencies except the pound sterling Tuesday, helped in slack afternoon trading by dollar purchases to hedge against losses. |