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FOREX: The euro again withstood the pressure of an impressive rebound in U.S. equities by mostly holding its ground against the dollar. The markets will be subdued Monday due to the Columbus Day holiday in the U.S.
Dollar sentiment was battered by the weak economic data Friday, hinting at an undercurrent of potentially negative sentiment surrounding the greenback.
Some analysts also said the dollar is weighted by worry after President George W. Bush had received Congressional backing Thursday to take U.S. military action against Iraq if efforts to get the U.N. to force Iraq to disarm fail.
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