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Forex: GBP/USD back at gains after NY opening

The GBP/USD returned to base, the opening price area around 1.5466, for the NY opening. Now that the US session has started, the market is edging higher again. The pair is currently trading at 1.5475 and is eyeing the highs made at the London morning, where the 1.5500 mark was tested.

The US NAHB housing market index is due to be released at 15:00 GMT, expected to rise from 47 to 48 in February.

“Current rebound above 1.5437 low should be considered corrective in nature, thus preceding next wave downwards, for a test of 1.5390”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to keu resistance at 1.5550.

Forex Flash: Seasonal risks suggest JPY strength over next months – TD Securities

Investors are reacting to signs of open disagreement between PM Abe and Finance Minister Aso over the way forward for monetary policy and even who the next BoJ governor will be, making the JPY the top performer of the G10 currencies. Also, according to South Korean officials, although Japan was not singled out at the weekend G20 meeting, Japan’s policies were not endorsed by the group and did prompt some controversy. 
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Hollande admits France will grow less than expected this year

French president Francois Hollande traveled to Athens on Tuesday where he held a press conference with the Greek PM Antonis Samaras. He admitted that the French economy will grow less than expected in 2013.
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