Wednesday July 13, 2005 - 13:11:04 GMT
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FX Today - www.fxtoday.co.uk
Can the dollar rally?
The US trade deficit was lower than expected at US$55.3bn from a revised US$56.9bn the previous month. Imports fell slightly while there was only marginal export growth. The markets have been worrying over the deficit and the better than expected data should offer some dollar relief and the US currency has strengthened to 1.2130. The dollar will, however, need to break this level to secure a more positive outlook.
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