U.S. Forex Market Commentary |
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EURO The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4775 level and was supported around the $1.4630 level. Different factors led to gains by the common currency. First, tropical storm Gustav is nearing the U.S. oil-rich gulf region and chased NYMEX crude oil futures for October delivery above the $119 handle, leading to U.S. dollar weakness. Second, the U.S. Federal Deposit Insurance Corporation reported more U.S. banks
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