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Forex Flash: GBP/USD view remains positive - UBS

FXstreet.com (Córdoba) - Against the expectation of many market participants, the Bank of England minutes from the April meeting, did not mention the 'changes in the mandate' of the bank at all, notes the UBS analyst team.

"We have argued on numerous occasions that the Chancellor did not announce any material changes to the mandate and today confirmed us in this view", says UBS. "This should keep the pound supported. On the other hand, today's employment data was slightly disappointing, but not dramatically. We keep a positive GBP view".

Forex: EUR/USD trades back at intra-day lows

After attempting to recover from the 1.3000 level, the EUR/USD was capped at 1.3050 following the Fed's Beige Book. Now the pair is trading at 1.3015, 1.20% below opening price. Pair is trading slightly bearish according to the FXstreet.com trend index.
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Egan-Jones downgrades Germany to A from A+; Outlook negative

Egan-ones, the independent rating agency, has decided to cut German sovereign debt rating from A+ to A according to a recent press release.
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