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Daily Forex Snapshot: 08-30-2008

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Forex - US Session-Mixed Economic Data, Dollar Picks Up Strength

G10 Advancers and Decliners vs USD
Cad0.17
Nok0.06
Aud-0.09
Nzd-0.48
The Usd posted slight gains in today’s trading session based on stabilization in oil prices under 120. The EurUsd fell over 30 pips to the 1.46 level, while the UsdJpy dropped further, down 70 pips to the high 108 price area. The GbpUsd traded close to yesterday’s closing level with a 1.82 handle, and price behavior will probably trend to the downside based on economic fundamentals. Equity...
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Daily Forex News & Commentary: 08-28-2008

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ECB’s Weber reopens speculation about interest rate increase despite FOMC suggestion for a Federal Reserve rate hike

The Dollar tumbled from six-month peaks against the Euro on Wednesday, as comments by European Central Bank official reopened speculation about an interest rate increase in the euro zone to fight persistent inflation pressure. It also fell against a basket of six major currencies, retreating from this year's highs. Still, investors remain wary of recent troubles in the US financial system as...
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