Daily FX Commentary |
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Focus back on the US economy The dollar took advantage of Euro vulnerability on Thursday and strengthened to fresh 2008 highs beyond 1.38 before a slight correction on Friday. The US economic data continued the significantly weaker tone. Jobless claims edged high to 497,000 in the latest week from a revised 496,000 previously and this is a level which suggests recessionary conditions. There was also a sharp 4.0% decline in factory orders for August and the recent data has suggested a sudden
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