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Due to the rising of oil prices with prospects of fading growth, US dollar was weakened against all of its major counterparts. With the oil prices rising above $136/bbl, the commodity currencies went up just a little against the greenback. While the Japanese yen rallied to around 106.8, the low yielding Swiss franc had a biggest gain against the greenback. The dollar had a sharp fall against the euro to 1.56, while the British pound inched higher to trade at 1.96 against the greenback.
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Posted on Jun-12-2008
