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07.09.2011 10:59

European focus: the euro retreated from session high

The dollar weakened against the euro, snapping a six-day rally, as stock gains and the Swiss National Bank’s decision to cap the franc’s rate yesterday damped demand for safer assets.

The euro strengthened versus the greenback as Germany’s top court rejected constitutional challenges to the nation’s participation in the region’s rescue funds. 
The Dollar Index declined before the Federal Reserve releases its so-called Beige Book today that provides an assessment of economic conditions in its 12 U.S. districts. 
Germany’s Federal Constitutional Court in Karlsruhe today threw out suits targeting the nation’s share of the 110 billion- euros in loans for Greece from euro-region governments and the International Monetary Fund as well as a separate 750 billion- euro rescue fund approved last year to halt the spread of Greece’s debt crisis.

07.09.2011 11:23

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  • Eurozone: Consumer Confidence, January -4.9
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