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Japan confirms quarter to quarter contraction

Japan's gross domestic product in the last quarter of 2012 came at -0.1%, against expectations of + 0.1% and last reading of -1% (downward revision) in the third quarter of 2012. Meanwhile, Japan's Q4 GDP annual declined to +0.4% vs a forecast of +0.4%. Japan's -0.1% GDP quarterly read represents a quarter to quarter contraction, also known as technical recession, the third since the global financial crisis of 2008.

Forex: GBP/USD to 1.40 below 1.5220 - FXWW

Following a first article on the gloomy outlook of the Cable, in which Sean Lee, founder at FXWW, predicts the GBP/USD downtrend looks set to gather steam should weekly support at 1.5250 give up, the analyst is out with additional views on the pair, saying that the sideways movement from the last 4 years looks set to end.
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