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Dollar range bound due to July 4th celebrations

The Main focus for the US will be at the G8 summit where George Bush is expected to discuss the global economy along with the Record oil prices being at the top of the list.

The Euro stabilised on Friday after the large sell off that occurred on Thursday. Factory orders came in at -0.9%, well below its expected 1.0% which gave its lowest reading for the day.  Due out today is July Sentix index which is expected to be at 2.5 down from its 5.2 in June.  German industrial output is expected at -0.4% from its previous -0.8%.

Sterling was volatile during the early trading hours on Friday with the currency dipping below the 1.98 mark a couple of times.  Due out today is the May Industrial Output and Manufacturing Output both expected to be at -0.1%.

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