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      Forex Flash: RBA cut less likely this week - NAB

      According to the latest NAB view on the upcoming RBA meeting, which shows consistency with last week's reports, "rate cut by the RBA this week is less likely" although the bank still expect more rate reduction down the road. "NAB’s view remains that more rate cuts will be needed during the course of 2013 as the boom in mining investment fades and the unemployment rate rises" the bank said.

      Forex: GBP/NZD prints historic lows below 1.8550

      As another sign of Pound weakness seen as of late, down -1.21% from Friday's highs alone against USD, and only above Yen in last 5 trading days, but below it for the session being with GBP/JPY near session lows, GBP just printed historic lows against Kiwi, according to Gomarkets Aus feed, few pips below previous lows in Aug 2011 around the 1.8540 level.
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      Forex Flash: RBA may refrain from rate cuts tomorrow - RBS

      According to RBS strategist Drew Brick, "with the direction of global growth currently still in the “balance”, as the RBA might say, the central bank may well refrain from rate cuts for now."
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