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Sterling rises on better manufacturing PMI data

The British pound outperformed against the dollar on Monday, after being lifted by better-than-expected manufacturing sector activity data which eased concerns over the economic recovery in the United Kingdom. The Purchasing Managers Index (PMI) for the manufacturing sector rose to 51.3 in May. This was the fastest rate of expansion in 14 months, while April’s reading was revised up to 50.2...

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June 3, 2013 @ 12:04 pm

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Euro pares gains after weak German retail sales

Euro is under pressure against the dollar after data showed retail sales in Germany fell unexpectedly last month. A report released by Destatis in early European session trading on Friday showed that retail sales fell to a seasonally adjusted minus 0.4 percent from minus 0.1 percent in the preceding month whose figure was revised up from minus 0.5 percent. The data was disappointing since...

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May 31, 2013 @ 7:28 am

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Dollar gains after Bernanke announces stimulus stays

The dollar had a very volatile session on Wednesday in the New York trade after a testimony by the Federal Reserve Chairman Ben Bernanke. The Fed Chief said that the currency loose monetary policy and stimulus measures will remain in place for now, though he did hint on some tapering eventually. The Fed currently buys bonds worth $85 billion a month in order to stimulate the US economy....

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May 22, 2013 @ 8:46 pm

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Euro steady against dollar ahead of Bernanke

The euro remained steady against the dollar on Wednesday as investors are waiting on the sidelines ahead of a key testimony on the economy by Federal Reserve Chairman Ben Bernanke later in the day in front of the US Congress. There is growing speculation that Bernanke will not likely mention anything about scaling back the US central banks bond purchase program this year, known as...

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May 22, 2013 @ 7:54 am

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