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Federal Reserve reiterates inflation risk

Discussion in 'Forex Daily News & Outlook' started by prav, May 31, 2007.

  1. prav

    prav Moderator
    Staff Member

    Apr 28, 2007
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    The dollar rose on Wednesday, touching a seven-week high against the Euro, as minutes from the Federal Reserve's last meeting reiterated policy-makers' view that inflation remains a top concern. In the Fed minutes, they said risks to economic activity are tilted to the downside while the risk that inflation may fail to ease is still the bank's predominant concern. Investors await a slew of upcoming US data that could further cool expectations for the Federal Reserve to trim interest rates later in the year. Revised US data on first quarter Growth precedes a group of key indicators due Friday, including the May payrolls report and a snapshot of manufacturing activity that will show whether the economy is picking up.


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