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Forex Report, September 20 2007 |
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The EUR/USD continues to climb and climb while the dollar is falling fast against just about everything. The EUR/USD hit another high today, touching just a shade under 1.4100 before falling a bit.
The USD/CAD is just about even after almost kissing the magic 1.0000 mark. This free fall might just see it dip below that point soon.
And, the damage continue across the board for the dollar. GBP/USD was up to 2.014 and USD/JPY was down to 114 before climbing a bit later in the day.
Will the bleeding ever stop for the dollar? Well, based on the current slate of bad news releases, the Fed rate cut, the continuing credit crisis, etc, so on and so forth, it doesn't look likely. However, currencies are famous for retracing quickly just about when everyone jumps on board. Be careful out there, and of course, Happy Trading!!!
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Forex Report