The Double Dip Dilemma UK GDP data

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Yesterday’s FOMC meeting drew most of the market attention with the high yield currencies gaining after the Federal Reserve indicated that it will maintain exceptionally low interest rates until at least late 2014. This announcement overshadowed the lower-than-expected UK GDP data released yesterday.

With little on offer in terms of economic releases in Europe today, markets will focus on the outcome of Italian bond auctions. Market participants will also keep an eye on news flow from Greece where the debt swap negotiations are scheduled to resume today.

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