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Dollar Grows on Mixed Data as Euro Goes Down

August 14, 2008 by

Dollar rose today against the euro but EUR/USD pair still remained in a mainly sideways trend. A good report on CPI and a rather low decline in the initial jobless claims were mostly ignored during today’s trading session. EUR/USD is currently trading near 1.4901.

Seasonally adjusted CPI rate was at 0.8% in July — that’s below June’s 1.1%, but above the average forecast of 0.4%.

Initial jobless claims declined to 450,000 last week down from 460,000 a week before. Average estimate for this indicator was at 436,000.

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