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Wednesday, August 29, 2007

The U.K. currency slid to $1.9995, from $2.0121. Dollar may slump against pound, snapping 2 days rally after Fed minutes showed FOMC members will keep a close eye on financial market conditions. Fed minutes may cause weaker dollar against pound and other high yield currencies. Consumer confidence is negative for dollar too. Pound may be also supported on speculation carry traders will return.

By Luckasi

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