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Biggest % gainers: AUD/JPY up 0.66%, USD/JPY, EUR/GBP, CHF/JPY on mild JPY strength.

Biggest % losers: GBP/USD down 0.71%, GBP/CHF on mild GBP weakness. U.K.'s Budget Deficit weighing on the pound this morning: http://www.bloomberg.com/apps/news?p...d=aVx5HTfURBGM

No huge movers either way so far this morning.

World Bank warns of a global slowdown in the 2nd half of the year: http://www.bloomberg.com/apps/news?p...d=aBviKKW7lJFg

Gold $1,105
Oil $ 77.83

President Barack Obama will offer proposals to limit financial institutions’ size and trading activities as a way to reduce risk-taking, an administration official said.
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Biggest % gainers: USD/CHF up 0.79%, GBP/CHF, USD/CAD, AUD/CHF on mild CHF weakness & mild USD strength.

Biggest % losers: EUR/JPY down 1.06%, CHF/JPY, EUR/USD, AUD/JPY, EUR/CAD, EUR/GBP on EUR weakness and JPY strength. Rumors are floating around that Germany's Merkel could resign.

Potential for more Greece, Spain woes and the thought of the U.K. ending its asset purchase program could drive EUR/GBP lower: http://www.bloomberg.com/apps/news?p...d=a_zjJMya36Vo

Some car plants in China run almost 24 hours a day and still can't keep up with demand: http://www.bloomberg.com/apps/news?p...d=av3dPlponcBw

Trichet puts more pressure on Greece: http://www.bloomberg.com/apps/news?p...d=aiHh.w3BFveo ...

Biggest % gainers: AUD/CHF up 0.94%, AUD/USD, AUD/JPY up on favorable Aussie employment numbers last night.

Biggest % losers: CHF/JPY down 0.48%, EUR/JPY, EUR/GBP, EUR/CAD, EUR/USD on EUR rates staying the same (at 1% as expected) and on Trichet stating that rates were "appropriate" at 1%. Merkel's comments below, weighing on the euro as well.

German Chancellor Angela Merkel said Greece’s mounting budget deficit risks hurting the euro, saying the currency faces a “very difficult phase.” Merkel Says Greece Means Euro Faces ?Difficult? Time (Update2) - Bloomberg.com

USD Core Retail Sales m/m worse -0.2% vs. 0.3% expected but previous month revised upward from 1.2% up to 1.9%.
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Biggest % gainers: USD/CAD up 0.78%, USD/CHF, EUR/GBP, EUR/CAD ...mild USD and EUR strength.

Biggest % losers: GBP/USD down 1.04%, GBP/JPY, AUD/uSD, NZD/USD, AUD/JPY ...so lots of GBP weakness and some mild commodity dollar weakness.

Gold: $1,139
Oil: $ 76.84 weakening...

Stocks and commodities fell after European Central Bank President Jean-Claude Trichet said policy makers will withdraw emergency cash gradually and Dell Inc.’s earnings trailed analysts’ estimates.

JPY kept interest rates unchanged at 0.10% as expected (overnight). Here's what they said: http://www.reuters.com/article/marke...26704920091120

Sean Hyman
DailyFX Forum Moderator ...