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[QUOTE="andy003, post: 680, member: 245"] [b]FOREX-Euro falls to 2 month low vs. US dollar,Yen deteriorates[/b] [FONT="Comic Sans MS"]17th February 09 Euro Worsens Against Dollar,Yen: The euro fell to a 10-week low against the dollar adding to concern financial turmoil in the region is worsening. The euro also weakened against 14 of the 16 major currencies on speculation its recent declines triggered the execution of automatic sell orders. Report pushes euro further down: The Moody’s research and risk analysis report aided push euro down below 1.27 and accelerated dollar gains across the board. Traders said a sudden bout of heavy selling had forced the euro lower, triggering a series of sell orders and sending it down about 1 percent to $1.2665, it’s lowest since early December. Japan’s Concern: Japan’s Finance Minister’s resignation spurred growing concern over the world’s second-largest economy .The market sentiment currently is to short the dollar and long the yen, so there’s a bias to buy back the U.S. currency and sell Japan’s, with forecast predicting the yen may fall to 93 per dollar today. Japan’s benchmark index Nikkei fell to its lowest as well in more than two months.[/FONT] [/QUOTE]
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