Wednesday April 27, 2005 - 12:47:25 GMT
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FX Today - www.fxtoday.co.uk
Dollar rally complete?
The US durable goods orders data was significantly weaker than expected with a 2.8% decline for March after a 0.2% decline the previous month. There was also a 1.0% decline excluding the volatile transport sector and the headline figure was the weakest for close to 2 years. The data will reinforce concerns over US growth trends, although markets will want further evidence before making a decisive judgement. A sustained move back above 1.2950 would invite speculation that the dollar saw a short-term peak at 1.2905 today.
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