Iomega Corporation

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Sunday, November 26, 2006

USD weakness right from the start of the new week

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USD is sharply lower right from the start of the new week, as heavy stop-losses triggered above 1.3100 in EUR/USD and above 152.00 in EUR/JPY, a lot of them option related, as traders were short volatility and now try to get out.
Thin liquidity exaggerates moves. We expect USD weakness to continue when Japan comes in.

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