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Euro soars to 7-month high vs dollar

In this Associated Press file photo, prices for shoes sit on display on a shelf at a Sears store, in Henderson, Nev. A steep fall in gas costs pushed down a measure of U.S. consumer prices in December, keeping inflation mild. The seasonally adjusted consumer price index dropped 0.3 percent in November from October, the Labor Department said Friday, Dec. 14, 2012. Gas prices fell 7.4 percent, the steepest drop in nearly four years. That offset a 0.2 percent rise in food prices. AP Photo/Julie Jacobson

Stronger manufacturing data from China pushed the euro to a seven-month high against the dollar Friday. Traders also sold the dollar after a report showed that U.S. inflation has remained mild, leading traders to anticipate that the Federal Reserve will keep interest rates low.

Posted: December 15th, 2012 in Latest Business Stories | Read More »

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