The dollar kept gaining ground against the other major currencies after Tuesday’s surprisingly strong non-manufacturing ISM data, which were influenced by better conditions in the services sector. The report backs up the Fed’s view that the US economic drop has been limited to the housing and manufacturing sectors, which generated some profit taking after the steep falls from the past week and a half. With heavy stops rumored under the closely watched 1.3280-level, traders sent the euro/dollar pair lower – quickly putting stops in place before triggering buying interest around 1.3260. Further losses will probably be moderate, considering the backdrop of economic events for tomorrow and Friday.
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