Day: August 14, 2008

August 14
2008

Dollar Grows on Mixed Data as Euro Goes Down

Dollar rose today against the euro but EUR/USD pair still remained in a mainly sideways trend. A good report on CPI and a rather low decline in the initial jobless claims were mostly ignored during today’s trading session. EUR/USD is currently trading near 1.4901. Seasonally adjusted CPI rate was at 0.8% in July — that’s below June’s 1.1%, but above the average forecast of 0.4%. Initial jobless claims declined […]

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August 14
2008

Pound at New Record Low in Almost 2 Years

The Great Britain pound rose today against the U.S. dollar for the first time in the last 10 days after reaching a new bottom level since the mid October 2006. The expectations that the Bank of England will cut the interest rate at it next meeting rose after BoE reduced its economic growth forecast. Pound managed to lose more than 7.6 percent during […]

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