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Flash: US economy strengthens US dollar - UBS

FXstreet.com (Córdoba) - The EUR/USD fell below 1.2900 as US consumer confidence in May surprised significantly to the upside, printing 76.2 versus an upward revised 69.0, notes the UBS analyst team. "The latest print is the highest since early 2008 and corroborates the University of Michigan confidence index jump in May".

"Given the stronger US economy, we expect EURUSD to fall further towards 1.26 within the next 3 months", UBS adds.

GBP/JPY falls to test 153.50

The Sterling's advance from Monday bottom at 152.35 has been capped at 154.60 with the pair trading back below the 153.00 area in the American session and test intra-day lows at 153.45.
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Flash: US Q1 GDP to be revised down to 2.3% - RBS

The US Bureau of Economic Analysis is scheduled to publish the first revision of the US GDP Q1 figures. The preliminary data was posted as 2.5% increase between Q4 2012 and Q1 2013. However, the RBS economic team expects the data to be revised down to 2.3%.
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