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Forex Flash: CBR cuts 25bp on some LTRO rates – TD Securities

FXstreet.com (Barcelona) - The Central Bank of Russia kept its rates unchanged as expected, but lowered by 25bp the rates on some long-term refinancing operations, “which the Bank does not expect to significantly affect money-market interest rates, but will lower the costs of financing for credit institutions, making monetary policy more effective”, according to TD Securities analysts. “There was speculation ahead of the announcement that the CBR may cut rates today, justifying the spike in yields after the announcement, as these expectations were disappointed. However, the CBR removed from their statement the sentence that "the current level of money market interest rates is appropriate for achieving the balance of the main macroeconomic risks", opening the way to lower rates in May or (more likely) in June”, wrote analyst Tim Davis.

Forex Flash: RBA on hold while market digests overnight events – UBS

The RBA kept its policy rate on hold overnight, fully in line with expectations. The central bank also kept its easing bias, and while immediate price action suggests some investors were positioned for a more adverse outlook, the currency had already been performing well in the run-up in what has been a sluggish session overnight in Asia.
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Forex: GBP/USD plummets to session lows at 1.5168/72

The GBP/USD upside is now a relic of the past, following the brief peak at the 1.5260 (intraday maximum) level during overnight trading. However, since then the pair has been in free fall, establishing fresh lows in these moments at 1.5168/72, down -0.38% Tuesday.
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