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Session Recap: China PMIs so-so; US sequestration begins

Quiet Asian session so far, although with plenty of headlines coming out from Japan and China, not moving much markets, as data mostly came in line with expectations, and focus shifts now to upcoming US “sequester” that is taking place from March 1 in the US as “Congress on Thursday abandoned efforts to avert the cuts and left town for the weekend,” the Washington Post reported.
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Forex: EUR/USD continues sequestered by sellers

The European-shared currency, as highlighted yesterday, was finally the victim of a corrective appreciation disguised in bear's clothing. After a promising upside day on Wednesday, risk appetite was nowhere to be found in the last US session, leading to solid bids in the US Dollar, as US equities suffered a major turnaround into negative territory.
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