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US Treasury Secretary Lew confident about soundness of US recovery

FXStreet (Łódź) - Speaking at a business forum in South Africa US Treasury Secretary Jack Lew said that the current positive trend in US economy should continue, although he expressed concerns about the weak rebound on the housing market.

He called for easing lending conditions to boost mortgages. He also pointed to the need of a tax reform and improvements in the US infrastructure.

Moreover the suggested that Europe needs a more responsible fiscal policy while China should concentrate on implementing the necessary economic reforms, making its policy more market oriented. However, the Chinese growth slowdown woes are exaggerated, Lew stressed.

EUR/GBP at the roof of current range

EUR/GBP spent most of Wednesday trades at the roof of the current range, trading at 0.7893 currently.
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Nikkei gains on strong factory output data

The Japanese equity markets gained strength today as factory output data beat market expectations. Meanwhile, the sentiment also remained strong on earnings optimism.
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