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Sterling boosted by UK jobs data and upbeat BOE growth forecasts

Sterling jumped against the dollar after the Bank of England Inflation Report increased the growth outlook for the UK economy. The BOE acknowledged that the UK is doing much better than it had forecast three months ago and can imagine the unemployment rate to fall to the bank’s threshold at 7 percent without having to change interest rates, by at least the fourth quarter of 2014. This fuelled...

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November 13, 2013 @ 1:30 pm

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Dollar Keeps Rising Against Yen

The yen weakened against most major counterparts today on low safe haven demand as investor confidence has been bolstered by improved US economic data. Despite expectations of the Federal Reserve reducing monetary stimulus, market sentiment is holding up well and equity markets are up, especially in Asia today, which led to a yen sell-off. The yen slid to its lowest level in seven weeks...

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November 12, 2013 @ 7:38 am

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ECB Rate Cut Leads To Euro Sell-Off

After being stuck in a trading range for the past couple of days, the euro finally broke out to the downside and fell hard against the dollar after the ECB rate announcement. Markets were caught by surprise after the ECB lowered its main interest by a quarter percentage point to a record low 0.25 percent from 0.5 percent. Soft inflation in the Eurozone was the main culprit. The euro slid by...

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November 7, 2013 @ 2:13 pm

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Euro Rebounds, Dollar Extends Gains Vs Yen

The US dollar extended gains against the yen in Asia today, continuing the rebound form yesterday following better-than-expected ISM non-manufacturing data from the US. The index indicated that the US service sector grew in October, rising from September’s 53.4 to 54.4. This follows a strong result from last week’s the ISM manufacturing index. The upbeat data bolsters the probability that...

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November 6, 2013 @ 8:08 am

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