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USD Trading Outlook (24-10-2012)

U.S. Dollar Trading (USD) demand for safe haven assets helped the Dollar gain across the board with EUR/USD falling below 1.3000 and USD/JPY testing Y80 both key levels. The lack of bounce from the large sell off on Friday makes this move lower potentially dangerous technically. Company earnings from the US are weighing with cautious outlooks. Looking ahead, FED FOMC Meeting forecast to hold at 0.25% but focus will be on the statement accompanying the decision.

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