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Tuesday, January 10, 2006

Tight Range For The US Dollar

It was a very dull U.S. session in FX trade today. After bouncing back from some early losses in Europe, the greenback (and all majors) kept to tight ranges for the remainder of the afternoon. We are in the midst of a thin week in terms of data-flow, with markets now looking forward to Thursday's ECB meeting. Although no change is expected, analysts will be looking forward to the follow-up commentary of Jean-Claude Trichet, who yesterday expressed optimism over global growth prospects.