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Monday, May 22, 2006

FX Closing Comments

The Dollar had another down day, which saw a movement out of emerging markets and into other major currencies. On the face of it, this adds to the sour sentiment surrounding the greenback. Technical orientated trade seemed to dominant the later part of the U.S. session. The U.S. calendar remains thin, however, tomorrow's European calendar has UK GDP figures for the 1st quarter, the French Insee survey, and euro-zone industrial production.