On Thursday, the European Central Bank is expected to announce that they are leaving their benchmark overnight lending rate at 4.00 percent for the second consecutive month.
Rising against the US dollar, euro and the British pound the Chinese yuan gained on recent developments following US Treasury Secretary Henry Paulson's visit to China.
While you wouldn’t know it by looking at the US dollar, bond markets have shifted towards pricing in a 100% chance of a 25 basis point rate cut by the Federal Reserve in January.
The US dollar saw fairly significant declines through late New York session trade, as disappointing economic data completely erased an earlier greenback rally.
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