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Friday, July 21, 2006

GBP/JPY: 7-Year High Reached

There is no remaining data on the U.S. calendar, as we look to closeout another volatile week in the FX markets. European and UK data were generally strong overnight, and the Dollar is looking soft in early trade. Crude prices jumped another 50 cents overnight to $74.81. Shifting interest rate expectations (Fed pause, UK rise, Japan pause) and Middle-East tensions remain the major themes. Read More....