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Forex: GBP/USD buoyed by Verizon/Vodafone buzz

FXstreet.com (Barcelona) - In an report published by Reuters, Verizon is planning a bid worth around $100 billion for Verizon Wireless stake. The deal is expected to take some months until potentially resolved, thus M&A flows are not an immediate threat.

However, as the IFR Markets editor Peter Whitley notes, "the sheer size of deal could be game changer." The GBP/USD is being supported by the news, having risen over 70 pips from its consolidation box just above 1.5250.

As Reuters reports: "Verizon, which already owns 55 percent of Verizon Wireless, has not put a proposal forward to Vodafone yet but it has hired both banking and legal advisers for a possible bid, the sources said."

"Verizon hopes to start discussions with Vodafone soon for a friendly deal but is prepared to take a bid public if the British company does not engage in talks, one of the sources added" Reuters added.

Forex: NZD/USD shoots above 0.85 on USD weakness

NZD/USD has broken to fresh weekly highs last at 0.8530 on thin Asian markets as New Zealand and Australia are both closed for holidays. The pair is up +1.38% for the week, following yesterday's RBNZ rate statement leaving interest rates on hold for the rest of 2013, the central bank said.
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Forex: Will next week’s ECB Rate decision end the range bound behavior?

The EUR/USD continues its range bound behavior, initially selling off due to weak economic data out of Germany but managing to crawl its way back and prevent any serious declines below 1.2954. Currently, the pair is well bid during the Asia session up another 26 pips at 1.3042. The recent price action has many wondering what the reaction of the pair will be to next week’s ECB meeting on May 2nd at 11:45GMT.
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