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Forex Asia Review – Aussie dips after RBA signals further rate cuts

Euro continues to carcass under pressure and the main driver behind its weakness is still the civic uncertainty in Greece and the increasing possibility of its departure from the euro zone. Greek party leaders will reconvene later today to shot at to end the deadlock and try form a government. If this fails, then new elections will be scheduled and this puts at hazard the country’s commitment to austerity measures and the bailout terms. Adding to dampness sentiment, Moody’s downgraded 26 Italian banks and port side all of their outlooks negative.

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