15-Month

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Renewed Appetite for Risk Drives Dollar to 15-Month Low

Support for the U.S. Dollar continued to erode all day triggering a collapse in the Dollar Index to near last week’s low at 74.27. A break through this level sets up a further decline to 73.67 which would match the April 2008 bottom.

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U.S. Dollar Hits 15-Month Low on Prospect of Lower Interest Rates

The U.S. Dollar hit a 15-month low against a basket of currencies last night on the prospect the Fed will keep interest rates at low levels for a prolonged period of time. This assumption is based on last week’s Fed FOMC statement and recent comments from a Fed official suggesting that unemployment is the major concern.

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