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Daily Foreign Exchange News Friday 12th October, 2012

This morning we see that the EUR/USD is currently at 1.2926, near session lows after peaking at 1.2945 Asian high, leaving the rate flat since NY close. The pair started with some risk appetite in early trade helped by US vice-presidential debate but the IMF-WB-G7 meeting headlines out of Tokyo, stating Asia “should remain the global growth leader, yet still “considerable” title

After a period of consolidation in early Asia, GBP/USD is under slight bear pressure heading into the European session, having traded down to an intraday low of 1.6025 from an earlier high of 1.6055.

The total number of U.S. job openings edged lower for the second consecutive month in August, a troubling sign for nation’s labour market, the Labor Department said on Wednesday.

European markets rose on Thursday despite the fact that Standard & Poor’s rating agency downgraded Spain’s rating by two notches to ‘BBB-’. This move boosted investors’ expectations for Spain’s imminent request for EU bailout.

As we write this morning we see at FX –global currency exchange that the Australian dollar is moving away from the highs of 1.0290 on Friday, although it is still in the positive territory for the fifth consecutive session after bottoming in the proximities of 1.0150 in the past week.

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