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Forex Flash: AUD down to multi month lows - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that the Australian Dollar fell to new multi month lows before the weekend and finished near the lows.

He feels that bounces are seemingly to have become shorter and shallower over the past several weeks. He writes, “The $1.2040-60 area should cap up ticks if the downward momentum is going to be maintained. We look for a test on the $1.01 area in the days ahead.”

US: ISM New York rises to 58.8 in February

In February, the ISM New York kept the expansionary pace for the fourth month in a row. In January, the figure was of 56.7 and just released data points to a rise to 58.8.
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Session Recap: USD consolidates as cautious mood persists

The dollar trades firmer overall, although major crosses remain confined to recent ranges as markets begin the week on a cautious mood, with stocks falling around the world. The euro remains virtually unchanged around 1.3000 while Italy's political uncertainty persists. GBP/USD managed to hold above the 1.5000 support despite weak UK construction PMI. Other majors are also steady around opening levels, with the main exception of the Aussie which fell to an 8-month low before recovering somewhat. Eurozone finance minister meet today to discuss a financial aid package for Cyprus and maturity extensions for Ireland and Portugal.
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