New York Session |
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The NY session was highlighted by another move higher in the buck as ECB President Trichet offered up a relatively dovish assessment of the Euro-zone economy. The ECB kept rates unchanged at 4.25% but what started as a non-event was quickly reversed as Trichet took the microphone. He noted the increased downside risks to growth while also acknowledging somewhat that inflation pressures have receded. The real bombshell came in the Q&A session when Trichet was asked about
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