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USD Trading Outlook (23-02-2011)

U.S. Dollar Trading (USD) when the US session opened a sharp sell off was seen in equities which sent the Dollar higher against risk assets on safe haven demands. The middle east turmoil threatens to derail the recent 3 month rally seen in global markets especially if uprisings spread to Iran or Saudi Arabia. In US stocks, DJIA -178 points closing at 12212, S&amp P -27 points closing at 1315 and NASDAQ -77 points closing at 2756. Looking ahead, January Existing Home Sales forecast at 5.24mln vs. 5.28mn previously.

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