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Currency Monitor 2012-04-17

April 17, 2012
  • Focus on Europe as Spain auctions debt with Credit Default Swaps at a record high
  • Italy will release revised growth figures likely to show a deeper recession, so more austerity
  • GBP proving a better alternative to EUR as S&P affirms Triple-A rating with a stable outlook
  • Dollar struggles to rally while Treasury yields fall; Downside limited as Fed downplays easing
  • Shirakawa says consumer prices "steadily contracting" raising prospects for more BOJ easing
  • RBA minutes may show a willingness to cut rates next month as China, Europe risks grow
  • PM Key says NZD is overvalued, looking at ways to resist appreciation; intervention is unlikely
  • Commodity prices recover on retail sales; Oil gains as Barrosso says Iran & Syria a "great concern"