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-The Foreign Exchange Wrap-up- <br /> For the Week Ending February 6th,2009 <br /> Open Feb 2°d Weekly Low Weekly High AM-Feb 6th <br /> Euro/Dollar 1.2750 1.2705 1.3070 1.2800 <br /> Sterling/Dollar 1.4445 1.4050 1.4770 1.4670 <br /> Dollar/Swiss 1.1640 1.1400 1.1740 1.1725 <br /> Dollar/Yen 89.70 88.80 92.30 91.20 <br /> -The Week in Review- <br /> The British pound staged a strong rally after the Bank of England cut its key rates to one percent. Traders <br /> seemed to ignore the continued bad news out of the U.K. and instead, cut down on large cross and straight <br /> positions that had been accumulating for weeks. The firming of the pound helped the euro lose all the <br /> momentum it had gathered early in the week, and the single unit ended the period on a soft note. The yen <br /> also weakened a bit. <br /> -The Outlook- <br /> Much of the U.S. dollar's short-term prospects depends on whether the Obama stimulus package will <br /> clear the Senate, something that still looks doubtful on Friday morning. Most analysts see a firmer U.S. <br /> dollar if the administration wins, although the cost of the programs may eventually change that outlook. <br /> Since everyone is expecting very bad U.S. employment numbers, the only surprise would be if they were <br /> better than anticipated, but the news is likely to have more impact on equity and debt markets than on the <br /> Wurrency scene. <br /> C! .de T���► <br /> 0 <br />