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Sunday, July 5, 2009

Forex News July 5 , 2009

Dollar Climbs as Safety Demand Rises on Markets

The dollar ended this week posting gains versus all 6 major currencies, as another wave of pessimism caused by grim reports in U.S and U.K. Spurred demand for the safety of the greenback.

Mexican Peso Ends Week Down on Poor Economic Data
The Mexican peso, a currency which is highly dependent on United States economic conditions, had the first decline in three weeks as American unemployment figures increased concerns regarding the nation’s recession depth

Brazil’s Real Pared Weekly Losses on Exports Data

The Brazilian real, which started the week with a bearish movement due to rising concerns regarding the global slump depth, recovered its losses on favorable domestic economic reports.

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