USD softer in recent trading

Written February 10, 2012 at 4:46 AM EST by  

The dollar has lost some steam following the Euro positive comments from Germany’s Ernst and a better than expected UK PPI number.

In the case of the dollar vs. the Canadian dollar, the pair is looking to test downward trend line support which has been developing over the last 24 hours. If support holds we look back to .99882 at the target; a break lower should see us trade towards .99637.

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