Archived IMT (2009.03.18)

EURUSD BREAKS above $1.3055, setting up the path for $1.33 as early as next week. Dollar sell-off extends on NEWSWIRE REPORTS that the UN will study proposals of moving away from a uni-polar reserve currency system dominated by the US dollar and into a basket of group of currencies. Speculation that major central banks would begin rebalancing their FX reserves has risen since the intensification of the dollars slide between 2002 and mid 2008.