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Forex Flash: EUR/USD should weaken no matter what ECB does – RBS

With key event ahead this week in the form of ECB meeting Thursday, FX Trading Strategist at RBS Greg Gibbs believes: “The EUR should weaken in any case if they do not cut,” he says, “because it represents a central bank that is taking excessive risks on not easing enough in a region that is experiencing deteriorating political conditions that will dampen business confidence,” the analyst concludes. EUR/USD is last at 1.3029, off fresh weekly highs at 1.3040.

Forex: AUD/USD higher post-RBA on hold

Following RBA rates on hold at 3%, given “Global growth is forecast to be a little below average for a time, but the downside risks appear to have lessened over recent months,” the central bank said, AUD/USD is mostly unchanged around the weekly initial price at 1.0205, last at 1.0208, off fresh weekly highs at 1.0222.
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Forex: EUR/USD at peace with 1.30 vicinity

The EUR/USD seems to be entering a period of consolidation, an indication that for now, there is an equilibrium between buyers and sellers around the all important 1.30. Last Friday first, and yesterday (Monday) next, a sequence of failed attacks to establish the price below the big round number have resulted in a period of relative calmness.
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