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Session Recap: US dollar mixed, consolidates within recent ranges

FXstreet.com (Córdoba) - The US dollar trades mixed across the board although mainly within its recent ranges. The euro came under pressure and fell back below the 1.3000 level as weaker-than-expected German Ifo data fueled concerns about the state of the eurozone's core member after a poor PMI reading yesterday.

In the US, disappointing durable goods orders did not help risky assets although strong earnings reports from blue-chip companies supported Wall Street indexes at the opening.

Main Headlines in Europe (in chronological order):

Germany: IFO – Business Climate down to 104.4 in April

UK: BBA Mortgage Approvals rise to 31.2 in March

Fundamental Morning Wrap: EUR dominates morning focus

UK: CBI Distributive Trades Survey - Realized drops in April against expectations

European markets up on earnings and expectations of ECB rate cut

US: MBA Mortgage Applications rise 0.2% in April-19 week

Euro poised for continued range-bound trading

US: Durable Good Orders fell 5.7% in March

Enrico Letta named Italian PM

Commodities Brief – Precious metals build on European gains, crude oil threatens 90.00 barrier

American equity markets edge higher despite weak US durable goods

Forex Flash: BOE announces modifications to funding – Investec

As expected, the Bank of England and Treasury have today announced a number of modifications to the Funding for Lending Scheme in an effort to boost lending to small and medium sized companies.
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Forex: EUR/GBP falls back to 0.8500

As the British Pound bounces on the NY opening and the Euro extends its fall, the EUR/GBP is down to its daily lows, threatening the loss of the 0.8500 handle, down by -0.38% on the day.
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