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Forex Flash: Spanish bonds in focus - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that Europe´s highlight today will be Spanish long dated bond auctions.

He writes, “There really isn't a lot of new news. The euro goes sideways for a while, then falls. Italy's problems aren't solved. German resistance to easier fiscal policy surprises no-one but doesn't help. The risk that 'risk-on' helps the overall mood may be enough to justify receiving GBP vs EUR. EUR/GBP may be temporarily forming a double top and the two trades look OK together.”

Forex: EUR/USD apathetic after Spanish sales

The shared currency remained indifferent after the 10.2% annual contraction of the retail sales in Spain, missing estimates at -8.3% albeit bettering December’s -11.4%. The euro kept unmoved around...
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Forex: GBP/USD rises on London opening

The London opening is allowing an extended advance of the GBP/USD, already above the 1.4950 line and closer to yesterday's high of 1.4982. Nothing much on the data front for the UK, but a risk-on mood is being drawn ahead of today's EU Summit that is focused on promoting growth.
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