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To: Les H who wrote (8374)	8/13/2003 11:32:16 AM
From: Les H	Respond to of 29595

fed stays with accomodative script forexnews.com We deem the Fed's cautious view on deflationary risks as mainly a device to prevent further run-up in yields rather than a reflection of the central bank's cautiousness with price deceleration. Accordingly, the door on lower interest rates to have become less open than it was before today. This interpretation seems to be the shared by most market participants, which explains today's positive reaction in stocks and the dollar.