Currency Trends in January 2009

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3 February 2009 - A new fall in the euro in January will further affect European clothing imports in the coming months while the Sterling again declined against the dollar at the same time. Except a drastic decrease in the Korean won and the Turkish lira, currencies were relatively stable in the first month of the year with the renminbi no more expected moving against the US dollar in the near term. Emerging currencies are however being weakened by lower interest rates and additional public spending.

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