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S&P revises Cyprus outlook to Stable from negative

FXstreet.com (San Francisco) - Standard and Poor's, the rating agency, has decided to revise higher its outlook on the Cyprus economy from negative to stable according to a recent press release. S&P sees that the immediate risk of sovereign default has receded.

The agency also commented that they could considers raising Cypriot rating if economy stabilizes sooner and performance at higher levels than projected. However, S&P projects Cypriot economy will contract by 20% between 2013 and 2016.

The rating on sovereign debt has been affirmed at 'CCC/C'.

Forex: USD/CAD breaking below 1.0150

The Canadian dollar is advancing against the greenback for the second consecutive session on Wednesday, hovering over 1.0150 despite the increased risk aversion...
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USD muted after FOMC minutes

In an unusual move, the Federal Reserve released the minutes from its March 19-20 meeting earlier than scheduled. However neither the surprise nor the content had much effect on the US dollar, which trades overall mixed across the board.
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