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ECB won't cut rate just to weaken Euro, says ECB's Weidmann

ECB's board member Mr. Weidmann is crossing the wires saying, among other things, that the ECB will stay away from cutting rates just to weaken the Euro, refuting speculation that the ECB may manipulate Euro rate to its own interest, so that Europe can gain more competitiveness on its exports. EUR/USD is at its session high at 1.3390.

Forex: GBP/USD clings to last support around 1.5500

GBP/USD is currently at 1.5515, off fresh 7-month lows at 1.5474, printed in late NY trade, down so far -1.78% for the week, with daily average range volatility back above the 100 pips per day for last 14 days on average. Pound has become weakest currency among majors for last few trading days, closely followed by Euro and Swiss Franc, while Yen has reversed positions and now is second strongest one in same period.
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Forex: EUR/USD jumps to 1.3390 on Weidmann

The single currency left the area around the mid 1.33s to quickly climb to levels shy of 1.3400 ahead of the opening bell in London, after BUBA’s J.Weidmann commented that the ECB will not cut interest rates...
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