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Thursday, September 28, 2006

FX Closing Comments

With the exception of the Pound, FX pairs kept to their familiar ranges. Sterling saw a significant correction is response to a incorrectly reported inflation reading that had previously motivated Sterling bulls. In terms of tomorrow's data, we'll have the final Michigan sentiment survey (exp. 84.4) and the PCE-deflator (Fed's favorite inflation measure). The Chicago purchasing manager index is also due and expected at 54.5.