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Forex Flash:Sterling outperforming as the UK employment numbers improve - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that GBP has outperformed this afternoon as UK employment numbers reported a somewhat better than expected employment report.

They write, “The unemployment rolls fell by 7.3k, roughly twice what the market expected, and the unemployment rate slipped to 4.5% from 4.6% in April. However, this was accomplished with what appears to be cheaper wages. Average earnings, reported with an additional month lag, rose 0.4% in March on a 3-month year-over-year basis, which is the way it is reported. This is nearly half that pace that was expected and follows a 1.0% rise in February.”

Forex Flash: Farewell to Mervyn - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that today´s BoE Inflation Report press conference saw 2013 GDP forecasts revised up (1.2% from 0.9%) and inflation down (2% in 2 yrs rather than 2.3%).
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Forex Flash: AUD/USD continues bearish retracement – UBS

UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions.
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