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Day: February 26, 2008
February 262008
Consumer Confidence in U.S. Sinks Dollar
Today dollar continued its bearish trend against euro and pound, sliding down significantly after the consumer confidence release. Both EUR/USD and GBP/USD were going for correction after the better than expected PPI report, but started to return to their earlier positions in shortly after the Conference Boards release. Producer Price Index (PPI) gained 1.0% in February a significant value for a one […]
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February 262008
Rupee Grows for Second Day
Indian rupee continued to advance in value during todays Forex trading session as the investors bought local currency to participate in the Indian stock markets rally. The Asian financial markets continued to grow today attracting more traders and spurring the growth of the regional currencies. Rupee also benefits from the tightening monetary policy in U.S. combined with the high interest rates on Indian government bonds. This […]
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