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Dollar Helps Drop Pea Values
VANCOUVER - Mar 21/08 - SNS -- International field pea markets managed a mixed performance amid relatively light end user buyer interest and limited fill-in demand from exporters.
Canadian markets were also affected by last week's steep declines in the value of the Canadian dollar, which sank over 4% against the U.S. dollar as many speculators spent the week covering short positions in commodities and the U.S. greenback.
The previous weekend's moves by the U.S. Federal Reserve to shore up American financial markets left speculators more worried than usual about the risk of unexpected events occurring over the long Easter weekend.
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