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Dollar sinks

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    Last Updated: August 3rd, 2009

    The dollar dropped to its lowest level so far this year as rising investor optimism dented haven demand for the US currency.

    Analysts said improved risk appetite saw investors dismiss the relative safety of the dollar in search of yield.

    The pound was one of the biggest winners after UK manufacturing PMI data fanned hopes the UK economy might pull out of recession in the third quarter.

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