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Politics : Moderate Forum
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To: 49thMIMOMander who wrote (13076)10/17/2004 7:44:25 PM
From: TigerPaw  Read Replies (1) of 20773
 
Dollar Breaks Seven-Month Range Vs Euro
sg.biz.yahoo.com

After seven months of bumping around within a range, it appears as if the dollar may finally be on its way somewhere - down.

The currency fell broadly last week, culminating with a sell-off Friday that brought the euro near $1.25 for the first time since March 1 and out of the $1.20-$1.2462 bookends that have constrained the euro against the dollar for months.

The break from the range woke traders and speculative investors from their months-long slumber and jolted the market into action. Though some dollar buyers eventually stepped in to take the euro down from its highs, many feel Friday's action is the beginning of a new trend lower for the U.S. currency. 

I hate being right all the time.
- Cassandra
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