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New York Session

Jul 22,2008

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US stocks and the oil market set the tone for the buck for the better part of the NY session, with higher oil and lower equities nudging the greenback lower in what was a pretty range bound environment initially.  The last hour of NY trading was quite eventful, however, as a plethora of weak earnings reports hit the tapes and led to some quick selling of the US dollar. The earnings highlights were a major credit card company that missed earnings by more than -30% and a huge tech company

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