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Dollar sinks as US data raises fears of hard landing

The dollar fell further on currency markets yesterday as weak US economic data heightened investor fears that the country’s economy could be heading for a hard landing.

The US currency fell as much as 0.8% to a new 20-month low of $1.3348 against the euro and 1% to $1.9847 against the pound, a new 14-year low.

References: Financial Times 02/12/06 page 1, Daily Telegraph 02/12/06 page 29, The Times Business 02/12/06 page 61

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