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Forex Flash: Weaker EZ data matches up with China and the US - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that we now have weaker euro zone data to go along with softer China and US outlooks.

They see that this will keep markets on the defensive and even though the euro zone debt crisis is on the back burner for now after Cyprus, the deteriorating growth outlook for the euro zone economies will only make it tougher to address the debt overhang. They write, “For now, the austerians are sticking with the program despite pushback from the US and the IMF. Even the recent discrediting of the Reinhart-Rogoff thesis has not seemed to dent the drive for more austerity.”

Forex Flash: Japanese retail investors still prefer domestic risk assets - Nomura

Nomura strategist Yujiro Goto notes that retail investors still prefer domestic risky assets, especially Japanese equities, to foreign assets as the economic outlook has been improving significantly.
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Forex: GBP/USD rises to session highs

The pound continues to recover ground versus the dollar, encouraged by better appetite for risk, after bouncing from levels sub-1.5200 hit during the European session.
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