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Friday, October 20, 2006

Dollar Heads Into the Weekend In a Tight Range

The Dollar heads into the weekend within a very tight 40-pip range, topping out at 1.2642 after slipping against the Euro overnight. The short-lived bull Dollar rally ended yesterday with a failure to break through resistance. Disappointing data from the Philly Fed and OPEC's decision to cut Crude Oil production by over 1M barrels, with more production cuts expected, stymied the greenback from gaining any further ground. Read More....