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Currency Analyst since 2010

May 14: Asian session

Asian stocks rose, boosting demand for higher-yielding assets. USD/JPY slid to 101.40 after reaching 102.15 yesterday, while Australian and New Zealand’s currencies strengthened. AUD/USD is currently trying to return to the parity after touching an 11-month low of $0.9940 yesterday. NZD/USD returned to the levels just under $0.8300 after testing $0.8230 yesterday. New Zealand’s retail sales added 0.5% in Q2 vs. 0.9% growth expected. Don’t miss the release of Australian budget at 09:30 GMT.

EUR/USD holds above the $1.3000 mark. Yesterday Cyprus received its first emergency aid payment and Greece won approval of 7.5B euro ($9.7 billion) of rescue loans. Italy’s 3-year debt auction with costs lowest since January lowered concerns about the country's prospects. However, the pair’s rebound was capped by the $1.3020 mark. Today’s euro zone’s agenda is busy with important data releases.

GBP/USD is trading around $1.531. Cable dipped below $1.5300 on Monday after a US report showed retail sales unexpectedly increased in April. USD/CAD is trading in the red around 1.0100.

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