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Yen Retreats, while Stronger EMU GDP Underscores Nascent Recovery and Lifts the Euro

From marctomarket.com

Stronger than expected eurozone GDP strengthened the sense that a nascent recovery may be taking hold and has given the euro a bid in the European morning. The dollar, though, is enjoying a firmer tone against the other G10 currencies today. Australia's unexpected weakness in retail sales has weighed on the Antipodean currencies. The Aussie and Kiwi are off slightly more than 0.5% today. Japanese data were mixed (a recovery in industrial production but weakness in retail sales) and the market has taken the dollar to almost JPY157. It had settled near JPY156.35 yesterday. The market is still treading gingerly after ... (full story)

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  • Category: Fundamental Analysis