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Wednesday, May 10, 2006

USD/CAD - At 1.10

There were no major FX moves yesterday, and the Dollar continued to languish ahead of today's Fed meeting. The other majors made only small additional gains against the greenback, though the Canadian Dollar did a bit better than most. Aside from the key Fed meeting, there is also a report from the U.S. Treasury dealing with currency manipulators due this afternoon. The big question is whether China, and potentially a few other Asian countries, will be named as "manipulators." Read More....