Dollar to Consolidate Further after Mixed Economic Data

Dollar remains steady in early US session after mixed economic data. Ireland remains the focus of the markets and speculations turns to whether Finance Minister Brian Lenihan will ask EU for funds to bailout its banking system in a meeting in Brussels tomorrow. Greece revised up its deficit in 2009 up to 15.4% of GDP, nearly 1.8% higher than prior forecast of 13.6%. The Japanese yen resumes recent decline against dollar after stronger than expected GDP data from Japan. Aussie and Kiwi remain soft today in spite of strong retail sales report from New Zealand.

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