The News Review:

- Forex – Dollar weakens on hopes US Fed still has room for more rate…
- Forex – Dollar takes a pounding as US data signals recession
- Forex – Pound strengthens after strong UK retail sales

Forex – Dollar weakens on hopes US Fed still has room for more rate…
Forbes – Feb 21, 2008
US data yesterday had shown a faster-than-expected rise in CPI inflation in January, which had initially raised fears that the Fed will not be able to keep easing monetary policy as aggressively as markets hope due to rising price pressures. ‘The Federal Open Market Committee minutes allayed these fears as they confirmed that the Fed remains focused on the downside risks to growth and is prepared to waive inflation goals for the meantime,’ said an analyst at Barclays (nyse:.

Forex – Dollar takes a pounding as US data signals recession
Forbes – Feb 21, 2008
The Federal Reserve Bank of Philadelphia reported today that its headline Philly Fed index fell to -24. 0 in February from -20. The latest reading was twice as low as economists had expected, and is now at its lowest levels since the 2001 recession.

Forex – Pound strengthens after strong UK retail sales
Forbes – Feb 21, 2008
The Office for National Statistics revealed that retail sales in January were up 0. 8 pct higher on a seasonally-adjusted basis from February, when retail sales fell by 0. January’s performance beat expectations for a 0.