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USD Trading Outlook (26-09-2012)

U.S. Dollar Trading (USD) sentiment turned dramatically negative overnight with stocks in the US falling the most in 3 months as European concerns and QE3 enthusiasm faded. FED Member Plosser was highly critical of the QE3 announced by the FOMC and stated he didn’t think it would lower long term interest rates and risked making the FED look ineffective. Looking ahead, Weekly Crude Oil Inventories forecast at 1.7mil vs. 8.5mil previously.

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