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Session Recap: Asia awaits for FOMC and Cyprus with Tokyo absent

FXstreet.com (Barcelona) - Quite session today in Asia-Pacific in all currency fronts, with very limited ranges overall. Tokyo remained closed over holiday while new BoJ staff stepped in headed by new governor Haruiko Kuroda, keeping the USD/JPY glued to the 95.00 handle, no lower than 94.80 as session lows.

Things started to move a bit more once Hong-Kong and Shanghai markets opened, pouring some risk appetite that lifted AUD/USD to session highs around the 1.0380 while Hang-Seng was up by +0.83% and Shanghai +2.10%. While writing these lines some gains are being erased, and GBP/USD tests weekly lows around the 1.0583.

Overall, very limited action in the Asian session ahead of key FOMC meeting later in the day at 18:00 GMT followed by the press conference 30 minutes later, while markets try to digest developments in Cyprus, and guess what the final outcome will be, as the country prepares itself for a possible full week with banks closed to avoid bank runs.

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As Cypriots lose faith in politicians, so do speculators in the Euro

As Cypriots lose faith in politicians, so do speculators in the Euro

The financial paralysis in Cyprus continues to be the primary theme around global markets, with the suffering a deserved punished, after the infamous bank deposit levy on Cypriots failed to gain approval through the Parliament.
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Forex: GBP/USD below 1.5100 ahead of a very very busy day

Cable is last at 1.5085, testing the lower bound of current weekly range with Monday lows at 1.5070, off session lows at 1.5078, and the upside limited at three times touched ask line 1.5145. The pair is facing a very busy London session ahead, with key UK unemployment data and BoE minutes at 09:30 GMT, followed by UK Annual budget release at 12:30 GMT, not to mention FOMC statement at 18:00 GMT and press conference 30 minutes later.
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