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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (20866)	6/18/2009 5:24:18 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 71456

Hit 1.62 after one hour of liquidation, if this is not bought... then look out below. 1.60 next support. Meowww!

To: RockyBalboa who wrote (20866)	6/18/2009 6:23:42 AM
From: RockyBalboa	Respond to of 71456

"Pound Plunges On Disappointing Retail Sales, Public Fin Data" Thu, Jun 18 2009, 09:12 GMT djnewswires.com Pound Plunges On Disappointing Retail Sales, Public Fin Data LONDON (Dow Jones)--The pound has fallen against other major currencies Thursday after U.K. retail sales data fell far short of expectations and public sector borrowing rose to a new record high in May. Sterling sank most sharply against the dollar, losing 1% to hit a session low of $1.6212, while the euro rose by a slightly smaller degree to reach GBP0.8581 as the two sets of data were released. May's retail sales fell 0.6% on the month and 1.6% on the year, in sharp contrast to the 0.9% monthly rise in April. Economists had predicted a further 0.6% rise in May. In a separate data release, it emerged that the U.K. public sector borrowed close to GBP20 billion in May. That was close to analysts' expectations, but it still marked the highest level for any month since records began in 1993. Howard Archer, an economist at IHS Global Insight in London, said the retail sales figures acted as a "reality check" on the U.K. economy after a flurry of more positive data. "The U.K. economy is still in a very fragile state," he said. The public finances data showed that the U.K. government needs "major fiscal tightening measures" to get back on track, he said. -By Katie Martin, Dow Jones Newswires; +44 (0) 207 842 9346; katie.martin@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: djnewsplus.com. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires