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Monday, June 12, 2006

FX Closing Comments

Trading in FX markets was subdued today, with the exception of the Canadian Dollar, which breached the 1.10 mark against the U.S. Dollar. Tomorrow the PPI, specifically the core PPI, is likely to be the main event. The Dollar may well draw strength from a high core number, as expectation for Fed rate hike in August would enter the market's psychology. The related consumer figure is due on Wednesday. The June Dollar index closed-up 11 ticks.