New York Session |
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The USD extended gains in NY trading as congressional leaders came closer to agreeing on the $700 billion mortgage bailout plan. The relief rally in stocks was palpable as shares jumped about 2% on the day. US bond yields, meanwhile, jumped as the flight to risk assets led to firm selling in this space. US 2-year yields rose 20 bps to 2.16% while the 10-year added 5 bps to 3.85%. EUR/USD took a beating and shed about -70 pips to a close near 1.4610 after dipping as low as
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