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ECB Monthly Report: Rate cut to support recovery later in the year

ECB Monthly Report for May 2013 includes information on the latest ECB meeting during which the Governing Council decided to reduce the interest rate on the main refinancing operations by 25bps to 0.5%.
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Forex: GBP/JPY capped at 154.00 region

The GBP/JPY broke higher to test the 154.00 region Thursday, bolstered by upbeat economic data out of the United Kingdom. However, during European trading, the failed summit of this region capped the upside and subsequently drove the pair back into negative territory in these moments. Presently, the pair is now settling at 153.69/72, down a modest -0.03% ahead of the BoE decision at 11:00 GMT.
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