
10-31-2006, 08:26 AM
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Nice Time To Exchange Dollar
The dollar rose against the Euro and the Yen , earlier the dollar climbed for a second day against Europe's single currency and broke a four-day losing streak versus the yen on speculation that the Federal Reserve will keep its target of immediate lending rate between banks at 5.25 % in the coming months.
Gains in the dollar accelerated after it broke through $1.27 against the Euro, where traders had orders to buy, traders sometimes place automatic orders to limit losses in case bets go wrong.
The Euro also weakened after a report showed German retail sales unexpectedly dropped in September on concern that the economic growth will also slow next year the dollar may move between 117 and 117.90 yen today. Where as, the dollar rose to $1.2688 per Euro from $1.2725 in late New York yesterday.
play the market....
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