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Bundestag gives the green light to the Cypriot bailout

FXstreet.com (Barcelona) - The German parliament has approved the rescue package for Cyprus today, with a clear majority voting in favor. German Finance Minister Wolfgang Schäuble assured that the aid will prevent the crisis from spreading to other countries.

The bailout, which amounts to 10 billion euros, received 487 votes in favor and 102 against, with only 13 abstentions out of the 602 participating deputies.

German Finance Minister Wolfgang Schäuble told the lawmakers in the Bundestag that the rescue package for Cyprus eliminates the risk of contagion to other peripheral countries, which would surely take place in case of the island's default.

Forex: NZD/USD bounces to 0.8440/46

The NZD/USD has bounced nearly 10 pips off the 0.8435 level during the afternoon of European trading Thursday. On the heels of mixed economic data in the United States, the pair was trading at 0.8440/46, up a modest +0.03%.
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Forex: EUR/USD around 1.3065/70 after US data

The bloc currency advanced some pips to the area of 1.3065/70 after the marginal change in the weekly report on the US labour market. The report showed that Initial Claims rose a tad to 352K in...
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