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Currency Analyst since 2010

Dec. 2: MARKET OVERVIEW

AUD/USD: Aussie rose to 0.8540 as traders were covering short positions. Australia released better-than-expected economic data: building approvals jumped by 11.4%, while a contraction was expected, while the nation’s current account deficit narrowed. The RBA kept the benchmark rate unchanged signaling at the period of stability in interest rates.

USD/JPY: USD is little changed in the 118.40 area.

EUR/USD: held below 1.2475 as demand for the single currency’s limited ahead of the ECB meeting on Thursday.

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