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Flash: USD higher on market volatility - DBS Group

FXstreet.com (Barcelona) - DBS Group analysts note that owing to volatile market conditions, the US dollar has pushed higher in May.

Hence, they have adjusted their currency forecasts to bring them in line with current rates. They write, “That said, we have not abandoned our view for the US dollar to resume its decline, especially against Asia ex-Japan currencies, in the second half of the year. While Eurozone data have disappointed in recent months and it is increasingly clear that China is in no hurry to pick up the growth pace, this has not derailed expectations for a modest recovery in the external sector later this year.”

AUD/USD rally capped at 0.9700 barrier

The AUD/USD has been in recovery mode Thursday, rallying higher and sailing towards the 0.9700 barrier earlier today (0.9699 session high).
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Flash: EC confirms extended budget deficit target deadline extensions - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the European Commission confirmed yesterday that it had granted Spain and France two more years to meet its budget deficit targets, with the Netherlands and Belgium both given one more year.
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