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Dollar Declines in Correction

June 16, 2008 by

The dollar declined today on the Forex market as the growth that it has experienced during the last week required some correction. EUR/USD currency pair went up from 1.5404 to 1.5517 today. The fundamental background was mixed today in the United States.

NY Empire State manufacturing survey showed a decrease in the index — it went down from -3.2 in May to -8.7 in June, still indicating a pre-recession condition in the manufacturing sector of the U.S. economy.

Net foreign purchases of the U.S. long-term securities grew significantly in April — they were at $115.1 billion, up from $79.6 billion in March (revised down from $80.4 billion) and above the median forecast of $63.2 billion.

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