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Hitt og þetta 22. febrúar 2006

DJ MARKET TALK: ISK Suffers Speculative Blow After Downgrade

[Dow Jones] ISK slumps after a Fitch Ratings outlook downgrade to negative from stable in what TD Securities calls a "full-blown speculative attack." ISK weakened from 75.5/EUR Tuesday to 78.65/EUR Wednesday.

TD Securities says the Fitch report coincided with speculative positions against the currency started a few weeks ago. Sees fundamentals for strength at least until mid-06, so says ISK should rebound over next few days and weeks. (CAP)