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15/08/2008, 10h24
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Will the greenback extend its gain to next week ?
The greenback continues to extend its gain. The signs of slowdown in euro zone growth which was shown on the Q2 data on Thursday and the pullback on gold and oil prices boosted this gain.
Gold dropped below the $800 an ounce to a low of $787.05 earlier this morning and EUR/USD extended its losses from the previous day to 1.4719. Oil slips to below $114 a barrel as the market continue to be bearish over the uncertainty of global demand and rising supply. GBP/USD also slipped to 1.8538 while USD/JPY is up to 110.47 near its 7 months high. Analysts say the market sentiment for the USD will stay positive, extending to the coming week supported by the deterioration in the European and Japanese economies.  
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