New York Session – February 28, 2011 4:00 PM

The U.S. dollar was weaker amid mixed U.S. economic data and Fed speak. NY Fed President spoke this morning and noted that while the economic outlook was ‘considerably brighter’ it is ‘not a reason to reverse course’ on the asset purchase program. The market viewed this as dovish and increased speculation that the Fed will lag behind other major central banks in taking a more hawkish stance in the face of rising global inflation. Full text »

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