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Cyprus might ease capital controls shortly

FXstreet.com (Barcelona) - According to Reuters, the Cypriot government is already considering relaxing some of the capital controls, introduced last week to prevent bank runs. It is expected that the limit on financial transactions will be raised from the current 5.000 euros to 25.000 euros. Additionally, Bank of Cyprus large savers are to be given access to 10% out of the frozen 40% of their deposits.

Meanwhile, the Cyprus stock exchange opened on Tuesday after remaining closed for two weeks. Shares fell 0.5% on opening and continued dropping, reaching -2.35% an hour later. The trading in Bank of Cyprus and Laiki Bank has been suspended.

Forex: EUR/GBP bounces back and extends gains

After hitting as low as 0.8426, the EUR/GBP bounced back as investors digested the UK consumer credit and manufacturing PMI data, forcing the British Pound to ease. The cross returned to its highs around 0.8450 and is attempting at extending gains further despite the publication of February unemployment rate in the Eurozone, a record high at 12.0%.
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Forex: EUR/SEK in session lows after Swedish PMI

The Swedish krona is sharply appreciating against the single currency on Tuesday, after the manufacturing PMI in the Scandinavian economy rose to 52.1 during March, exceeding both forecasts and previous print...
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