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Monday, March 20, 2006

FX Closing Comments

FX pairs, especially Dollar pairs, kept to tight ranges today. In the absence of any significant U.S. data, the market was left to ponder hawkish commentary from both the ECB and U.S. Fed. The effect was deadlock. Tomorrow will bring us February producer prices, which are expected to be tame at .2% for both the overall and core number.