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Cyprus' parliament approves EU bailout

FXstreet.com (San Francisco) - The Cypriot parliament has ratified the agreement with the European Union to bailout the country. The initiative has been approved by 29 votes in favor against 27 opposed. The law includes the provision to impose losses on bank depositors, the ability to decree more extraordinary levies.

Cyprus will get the first tranche of the bailout, €10 Bn, from the European Union and the IMF in May.

Forex: USD/CHF collapses to 11-day lows at 0.9275

The US dollar is falling hard against the Swiss franc following the bad Chicago PMI and despite the US consumer confidence well above expectation figures. The USD/CHF has fallen around 90 pips in the latest two hours from 0.9365 to reach the lowest level since April 19 at 0.9275.
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Forex: EUR/USD upside capped around 1.3180

The bull run that lifted the cross to the vicinity of 1.3180 on Tuesday is running out of steam, sparking a correction lower to the current area of 1.3165/70...
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