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Forex: EUR/USD hovering over 1.2980, eyes on Cyprus

FXstreet.com (Barcelona) - The bloc currency has now retreated from highs above the psychological mark of 1.3000 to the current area of 1.2980, ahead of the crucial debate in Cyprus, against the backdrop of increasing protests outside the Parliament in Nicosia.

The euro quickly surpassed the 1.3000 figure on Friday after Government officials expressed their optimism regarding a quick solution of the crisis that has been whipping the island for over a week.

At the moment, EUR/USD is advancing 0.66% at 1.2981 with the next resistance at 1.3004 (high Mar.22) ahead of 1.3107 (high Mar.15) and finally 1.3123 (MA30d).
On the flip side, a breach of 1.2888 (low Mar.22) would open the door to 1.2879 (MA200) and then 1.2857 (low Mar.20).

Forex: GBP/JPY falls to 143.74/81 on Fitch outlook

The GBP/JPY has been in decline following the news from Fitch earlier today, which reversed an upside movement that had capped at 144.16 Friday. Having fallen 40 pips since then, the cross is now trading in negative territory at 143.74/81 in these moments, down -0.23%
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Cyprus? Really? Figures!

For almost a week, financial markets had traded at the pace of one of the smallest members of the EU, Cyprus. The island joined the group in 2004, officially adopting the Euro on January 2008, and with its 1.1M population has remained on the shadows of larger economies and territories.
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