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Yen rises broadly in quiet trading today, with help from falling US and European benchmark yields. Sterling is following as next strongest, and then Kiwi. On the other hand, Swiss Franc is the worst performer, followed by Dollar, Canadian. Euro and Aussie are mixed for the moment. As the US markets are on holiday today,
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Gold prices firmed above the key $1,750 an ounce level on Thursday, consolidating gains after minutes of the U.S. Federal Reserve’s latest policy meeting signalled slower interest rate hikes. FUNDAMENTALS * Spot gold rose 0.3% to $1,754.08 per ounce by 0033 GMT. U.S. gold futures advanced 0.5% to $1,754.30. * A “substantial majority” of Fed
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Sterling surges broadly today, shrugging off PMI data which indicates extended weakness in the economy. It’s even over-powering New Zealand Dollar, which was lifted by RBNZ’s jumbo rate hike. On the other hand, selling is focusing on Dollar, Canadian and Australia, while Yen is also on the weak side. Euro is mixed, and it’s clearly
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The RBNZ raise rates by 75 basis points and the statement was thought to be more hawkish. Below are some of the headlines Monetary conditions need to tighten further Remains resolute in achieving monetary policy remit Productive capacity of the economy is being constrained by broad-based labour shortages, and wage pressures are evident Core consumer
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