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Is there confidence that the weakening economy and the Dollar’s decline will be reversed?

*Reuters, by Atul Prakash, February 15, 2008

“Dollar down as consumer sentiment slides

The dollar fell against the euro on Friday after a gauge of consumer sentiment plunged to its lowest level since 1992, adding to fears that the U.S. economy may be slouching toward recession.

The euro pushed above $1.47 for the first time in nearly two weeks to trade at $1.4709, up half a percent from late Thursday, before easing to $1.4692. It traded around $1.4685 just before the Reuters/University of Michigan consumer sentiment data was released.

The dollar was also down half a percent against the yen at 107.40 yen, with most of those losses coming after the New York Federal Reserve’s February manufacturing index posted its biggest monthly decline on record.”

*This information is solely a highlight of the opinion of a third-party publication and is incomplete.  Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

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