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The poor economic outlook for the U.S. economy kept downside pressure on the U.S. Dollar throughout the day. Traders reacted negatively toward the Dollar following the release of the U.S. Consumer Price, Housing Starts and Building Permits reports. The economic releases this week are continuing to indicate that the U.S. economy is in a deepening recession. Late in the trading session the minutes of the Fed's last FOMC meeting in October confirmed that the Fed is looking for the current economic contraction to last well into 2009.
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