QE3 Fails to Launch

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Yesterday, minutes of the Federal Reserve’s latest policy meeting poured cold water on market hopes of further quantitative easing in the US which has aided sentiment towards safe haven currencies. The next trigger for the markets is likely to be the ECB policy meeting due later today. The monetary policy stance is unlikely to undergo any major surprises but the ensuing press conference by the ECB President would be of key interest to market participants.

At home, data just out reveals an unexpected improvement in services sector for March. This comes on the back of robust manufacturing and construction activity data released earlier this week.

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QE3 Fails to Launch

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