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Forex Flash: Any further RBS cuts business-related, not household-related - NAB

FXstreet.com (Barcelona) - According to Spiros Papadopoulos, Australia based Senior Economist at the NAB: “The economic commentary in today’s report suggests any further cuts by the RBA will be business-related, not household-related,” Spiros says, adding: “Business failure rates are above average, whereas households have 20 months’ worth of home loan repayments in offset and redraw facilities,” the analyst noted.

Session Recap: Thin ranges in Asia as Eastern nears, while wondering if Cyprus banks will open tomorrow

An Asian session that had a very slow open, it started picking up steam once Shanghai and Hong-Kong opened, and USD broke marginally above the 83.00 round ask line in the index, presumably on some stops being triggered given very thin markets, which took USD/JPY to session highs around 94.90, EUR/USD and AUD/USD to session lows at 1.2837 and 1.0460 respectively.
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