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The USD fell to new all-time lows against the European single currency (EUR) just one day after a Fed plan to ease the credit crunch inspired sharp USD gains. EUR/USD rose from about 1.5450 in early NY trading and peaked in the late afternoon after making a high around 1.5570. The greenback was sold heavily in Asian and European trading, as Chinese officials indicated a need to hold stronger currencies in their FX reserves at the expense of the USD. Mid-east sovereign wealth
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Thursday, March 13th, 2008 at 1:25 am
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