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Currency Trading Erratic; Dollar, Sterling Lose Ground

Posted:02/12/2008 13:19 by Oliver Scott
The early bid tone to the USD and JPY proved short lived as the market responded to speculation of potential U.S. Treasury stakes in U.S. banks. USD-JPY reclaimed 93.00 after finding a bid ahead of 92.50 and EUR-USD rebounded from 1.2563 lows to trade as high as 1.2681 before sellers came in. Meanwhile, sterling remained the selling currency of choice; it extended Monday's losses and traded down to 1.4779 lows and EUR-GBP recorded 0.8549 highs. The CHF traded on a softer footing as equity markets rebounded and Swiss November CPI fell, which reinforced SNB rate cut speculation click here to return to the top of the page
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