Pivotal bond auctions ahead…

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Yesterday’s resurgent demand for high yield currencies appears to have faded a little as traders turn cautious ahead of the debt auctions in Germany and Portugal today. At home data has been positive with a rise in mortgage approvals for November and an unexpected improvement in construction activity for December. The direction of the currency markets in the next few trading sessions will be largely driven by the outcome of debt auctions in key Eurozone countries.

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Pivotal bond auctions ahead…

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