International news
The USD fell on Friday as weaker-than-expected first-quarter GDP growth spurred thinking that the Federal Reserve is unlikely to pull back on quantitative easing in the short-term. The 2.5% figure was an improvement on the previous quarter figure of 2%, but fell short of the expected 3%. Despite the growth, the fact that it missed expectations could raise fears about the impact of government spending cuts and higher taxes
EUR/USD traded fairly quietly on Friday trading around 1.2980 early on, before peaking at 1.3048 after the weaker than expected US/GDP figures were released. There is growing speculation that the ECB will lower interest rates at next week's policy meeting, and this could certainly affect the movement of the euro this week. However the dollar has continued to weaken this morning and EUR/USD is currently trading at 1.3090 [...]
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