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Australian PM Gillard and Deputy PM Swan re-elected unopposed

FXstreet.com (Barcelona) - Headlines coming through the wires confirm that Australian Prime Minister Gillard survived the leadership ballot, however, as things stand, there is likely to be some speculation about the destabilizers within the labour party aiming for a change. So, in summary, everything remains as it was, PM Gillard and DPM Wayne Swan keep their posts.

Forex: EUR/USD holds below 1.30, watch Cyprus-led swings

With Cyprus crisis developments changing by the minute, and its Finance Minister on an undefined visit over Moscow looking for aid, EUR/USD is last trading around the 1.2950 area, slightly higher for the Asian session.
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Forex: GBP/USD flat for the week around 1.5100 despite all the noise

Following the 75 pips swings to both sides first to weekly lows 1.5027 yesterday followed by weekly highs at 1.5187, Cable is at the same point is was last Friday by the closing bell around the 1.5117 last, unchanged for the whole week so far. According to BK Asset Management director Kathy Lien: “The Bank of England did not grow more dovish in the face of weakening economic data,” the analyst notes, while “Instead, they expressed concerns about unwanted depreciation of their currency and the impact that it could have on inflationary pressures.”
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