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Forex: GBP/USD drops below 1.5300

FXstreet.com (Barcelona) - The pessimism surrounding the sterling is dragging the pound to sub 1.5300 levels on Tuesday, decoupling from its European counterpart.

“The market has continued to pare back Bank of England easing expectations after they left policy unchanged at last week’s meeting. Focus for this week will be on Thursday’s Inflation Report, in what will be outgoing Governor King’s last ahead of Carney’s arrival in July”, commented Nick Mannion, FX Trading Analyst at RBS.

The cross is now losing 0.19% at 1.5270 with the next support at 1.5265 (low Apr.25) followed by 1.5246 (MA55d) and finally 1.5227 (low Apr.24).
On the flip side, a break out of 1.5405 (MA21d) would then target 1.5447 (low May 7) en route to 1.5465 (MA0d).

US: Import Price Index fell 0.5% MoM in April

The Commerce Department has informed that US import prices have contracted 2.6% on a year to April and 0.5% on a monthly basis, vs. expectations at -2.7% and -0.2% respectively...
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Forex: AUD/USD tumbles to session lows at 0.9900

The AUD/USD has collapsed today, following the fate of its antipodean counterpart Tuesday. During US trading, the cross recently bottomed out at the 0.9896 level (intraday low), and is currently testing this region in these moments. At this juncture, the pair is suffering a loss of -0.45%.
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