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Currency Monitor 2012-04-30

April 30, 2012
  • Stocks gain despite slower U.S. growth due to stronger consumer spending and confidence
  • Data this week on spending and employment may show the recovery is sustaining moderate pace
  • Dollar weakens as slower growth keeps alive speculation for the Fed to resort to QE3
  • Spain's GDP to confirm recession; Government announces deficit measures amid protests
  • EUR helped by talk of a 200 billion infrastructure project, but little else planned for growth
  • Commodity currencies rally on growth prospects; AUD gains may be reversed by RBA tomorrow
  • Yen strengthens on BOJ disappointment from policy easing and as Treasury yields drop
  • SNB says it can act "at any time" as CHF still overvalued at 1.20 versus EUR