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Aussie lower in an uneventful morning part of the session

This morning from Australia only minor importance MI Leading Index figures were released, showing 0.1% decrease. The Australian economy appears to have suffered a loss of momentum. After a promising start with four months of above-trend reads, the Leading Index growth rate has effectively dropped back to zero in May indicating a more subdued growth pulse in line with long run averages.  Read more...

Sterling still stable above 1.55 handle

There are no major data releases from the UK today,so it is a steadier morning part of the session with traders being cautious ahead of major data releases later in the week. Also, Sterling fell on Friday afternoon and continued this trend at the beginning of Monday's session after a speech from the head of the Bank of England Governor Mark Carney offered investors no clues as to when interest rates might be lifted from their historic lows.
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Is it time to sell Aussie?

There were no major data releases from Australia this morning, with Aussie edging down, currently being traded few points above 0.7720 level. Yesterday's job figures, showed surprising fall in unemployment rate to 6.0%. However, impact of the data was offset by comments earlier in the week by Reserve Bank head Glenn Stevens, indicating he was open to further interest rate cuts.
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USD broadly lower against its major rivals

USD fell against its major rivals today. Though there were no major data releases and despite decline in Westpac Consumer Confidence Aussie managed to break decisively above 0.77 handle and is currently being traded few points below 0.7750 level. Reserve Bank of Australia Governor Glenn Stevens, in his speech earlier today, signaled the possibility of further interest rate cuts in the future but added that policymakers should not expect too much from monetary policy, warning that it could lead to "much bigger problems" for the economy. 
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