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Forex Flash: EUR/USD would remain under pressure – UBS

The bloc currency is holding steady around 1.3000 on Monday, trading in a narrow range and reflecting the lack direction prevailing in the markets.

Ahead in the week, the ECB will hold its monthly gathering with pressure building up against the backdrop of the tepid results from the euro zone as of late.

“The euro is still likely to remain under pressure, however, as it tests the bottom of this year's 1.30-1.37 range against the dollar. In particular uncertainty of what the ECB will do in response to continuing weakness in the Eurozone is likely to weigh on the single currency”, assessed M.Mohi-uddin, Director of FX Strategy at UBS.

Forex Flash: Antipodean currencies eye global events – BNZ

According to the BNZ Research Team, “For Wednesdays dairy auction, we favor another increase in price (especially with the recently dry weather hurting production in many parts of the country). It certainly looks as though Fonterra needs to witness higher prices if it’s to bump up its forecast payout any.”
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Forex: AUD/USD extends recovery above 1.0170

After bottoming at 8-month low at 1.0115, the Aussie is trading in recovery mode trying to recover some ground against the US dollar with the AUD/USD inching above the 1.0150 level and testing the 1.0170 area.
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