Wednesday December 8, 2004 - 14:41:55 GMT
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FX Today - www.fxtoday.co.uk
Dollar correction complete?
The dollar has corrected sharply higher over the past 24 hours with highs of 1.32 against the Euro and 104.9 against the yen. Lower oil prices will help the dollar as will short-term interest rate trends as the Fed is set to tighten next week. Long-term sentiment will remain weak. The correction is unlikely to extend beyond 105.0 against the yen and 1.3180 against the dollar and could already be complete.
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