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Dollar bounces back

However, the Dollar bounced back later on hawkish comments made by Henry Paulson, also pulling the dollar back was a further pull back in Oil and Gold as Hurricane Dolly looked to miss the Gulf production Areas.  

The Euro fell sharply as hawkish comments from the US triggered dollar buying as falling oil and general concerns over the state of the European economy .Overall the EUR/USD traded with a low of 1.5758 and a high of 1.5945 against the USD.  

The GPB had a Hawkish outlook in the early market trading hours, but fell sharply inline with our European counter parts as Paulson spoke in the US which helped the USD Break back through down from the key 2 dollar to the 1.9950 mark. BOE governor Mervyn King spoke Before MPs last night but made no mentions of monetary policy. Overall the GPB/USD traded with a low 1.9898 and a high of 2.0075.