Dollar sold to record lows against the Euro
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
The US Dollar was aggressively sold against the Euro and the pound yesterday. Against the Euro, the US Dollar was sold from the open having traded to a low of 1.6038 later in the morning. the greenback then began to claw back its loses for the day. It was a similar story against the pound, cable smashed through the $2.000 level trading up to a high of $2.0157 before we saw some profit taking and short term traders invariably tring to play the correction. UK inflation rose to a record high in June, the CPI rose to 0.7% on the month and 3.8% on the year in June.
Wednesday 16 July 2008, 10:28am
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