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Friday, May 12, 2006

EUR/USD: The History

Yesterday was another rough one for the Dollar. Overnight, matters were little changed. This morning's slightly better trade deficit number has, thus far, done little to reverse the Dollar's lagging fortunes. The figure was reported a -$62 billion for March, which was nicely lower than expectations of -$68b, but it seems that the overall largeness of the figure remains at the root of the Dollar's woes. The corresponding capital inflow data is due on Monday. May consumer confidence also came in this morning at 79, which is much lower than the expected 86. Read More....