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Forex Flash: EUR/USD should struggle around 1.2910 - BNZ

FXstreet.com (Barcelona) - For today, in view of Mike Jones, FX strategist at BNZ, the new established uncertainty and risk averse mood "will keep the USD well supported" he says.

Mr. Jones adds: "EUR/USD should struggle to sustain bounces towards 1.2910, with a break below 1.2800 now the bigger risk. Key event risk for the USD will come from tomorrow morning’s FOMC minutes. These seem unlikely to surprise, but a modest downgrade of the FOMC’s US economic view could provide pause in the USD uptrend."

Session Recap: Euro pressured on Cyprus vote

The Euro traded heavy on Tuesday as Cyprus situation pressured down the single currency against its majors competitors. The Cypriot parliament rejected the bank-deposit levy proposal with no votes in favor and in this line, Cyprus blocked the €10Bn bailout.
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Cyprus FinMin heading to Russia for loan talks

Reports are emerging that Cyprus finance minister has scheduled a visit with his Russia counter-part in Moscow in order to discuss an existing 2.5 billion euros loan that Moscow approved to Nicosia back in 2011 at a rate of 4.5%. The main aim is to figure out a way to either lower that rate or extend the loan's expiration date until 2020 from 2016.
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