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Day: August 8, 2008
August 82008
Dollar Experiences Fastest Daily Rally Since 2004
The U. S. dollar rose against euro at a fastest pace since early 2004 today. Although, the growth is mainly attributed to the euros weakness, caused by they commantery made by ECB President Jean-Claude Trichet yesterday, the dollar has also a surge of power, rising against all other major currencies today. EUR/USD lost 270 pips already and is now trading near 1.5016 — level not seen since February. Productivity […]
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August 82008
Euro Drops to 5-Month Low on Rate Outlook
The euro fell to its five-month lowest level against the U.S. dollar as the investors traded on the high probability that the ECB wont be raising interest rate as the economy is slowing. The euro also declined against the Japanese yen, falling to its 3-week low against this currency. Yesterday European Central Bank President Jean-Claude Trichet said that the Eurozone economy will be particularly […]
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