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Day: June 6, 2008
June 62008
ZAR Heads for Biggest Weekly Drop
The South African rand headed for the biggest weekly loss against the U.S. dollar in the last three months as the traders were concerned that the high interest rates will prevent countrys economy to rise at a fast pace. After the central bank said that the inflation will probably keep above the banks target 3-6 percent rate for at least until 2010, the rand […]
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June 62008
Dollar Deeps Further on Uneployment Rapid Growth
The U. S. dollar dropped down today against as the unemployment rate soared in the U. S. Yesterday EUR/USD gained from the hawkish statement by Jean-Claude Trichet (he said that he will probably raise the interest rates on ECBs next meeting), today it grows because of the poor U.S. fundamentals. Nonfarm payrolls decreased by 49,000 in May below the expected 60,000 dropdown, but above the revised April 28,000 loss in the jobs. […]
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