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Day: April 24, 2008
April 242008
EUR/USD Falls Lowest since April 14
EUR/USD slid to its minimum value since April 14 today on Forex 1.5675, as the investors started to consider the U.S. currency to be oversold and the further interest rate cuts by the Federal Reserve unlikely. Fundamental data that was released today in U.S. was mostly disappointing, but that didnt help the euro to grow against the dollar. Initial jobless claims dropped 33k last week from […]
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April 242008
Indian Rupee Falls on Demand for Dollar
The Indian rupee declined today to its monthly minimum level on the Forex market as the domestic companies had to purchase more U.S. dollars to pay for the imports, including oil. It was the second bearish day for the rupee, which is under pressure from the widening current account deficit (which is a great problem for another Asian currency South Korean won). Imported goods […]
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