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Feb 20, 2014
Upswing in risk sentiment after US PMIs redeem recent pessimism
We’ve seen a see-sawing of risk through the day. Risk aversion started the day leading on from yesterday’s dovish forecast for the rate of US economic growth in the FOMC minutes, followed by weaker-than-expected Chinese economic indicators. However, the huge jump in US PMIs helped to dispel some US pessimism.
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Feb 20, 2014
GBP/USD changing course, struggles at 1.6700
Sterling had recovered the losses from 1.6686 to the lows of 1.6640 throughout a session and a half of data releases from Europe and the US, reaching towards 1.6700 where the pair meets supply again.
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