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Yen weak on Japan FinMin remarks, dollar in focus ahead of Yellen speech

The yen weakened during the Asian session against most major counterparts as markets reacted to comments made by Japanese Finance Minister Taro Aso today. Relatively good economic data from Japan did not help the yen rise. A GDP report showed the Japanese economy expanded at an annualized pace of 1.9% in the third quarter, surpassing expectations for a 1.7% growth. However, compared to the...

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November 14, 2013 @ 9:17 am

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Pound Tumbles To 2-Month Low After UK Inflation Falls

Sterling tumbled to a two-month low against the US dollar today on the back of UK inflation unexpectedly falling to its lowest rate for more than a year in October. The softening inflation rate will likely reassure the Bank of England that the British economy is strengthening and thus lessens the chance of a rate hike soon. This led to a sell-off in the pound today. The UK consumer price index...

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November 12, 2013 @ 1:02 pm

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Aussie Falls on Soft Jobs & Euro Calms Ahead of ECB

Currency markets were calm during the Asian session, with most currency pairs consolidating as markets await key policy decisions by two major central banks today. The European Central Bank will be holding its monthly policy meeting today, and investors are keen to see if the central bank will be lowering interest rates. There were some expectations of this recently due to deflationary...

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November 7, 2013 @ 8:43 am

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AUD drops after RBA cautions on strong currency

The Australia dollar was soggy today after being hit lower on remarks from the Australian central bank. The Reserve Bank of Australia announced it left its key interest rate at 2.5 percent but said that the value of the currency is too high for a stable economic recovery. This caused a selloff in AUD, which fell to a session low of $0.9462 after having hit a high of $0.9520. The euro eased...

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November 5, 2013 @ 7:53 am

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