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26 June 2009: UK bond yields and swaps fall
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Momentum in the pound has faded somewhat this week
amid mixed economic data and Bank of England Governor
King’s concerns over the magnitude of the UK fiscal deficit. After recording a high on Monday (€1.1904), £/€ pulled back to close the week at 1.1738. £/$ traded the week in the 1.6210-1.6602 range, closing today at 1.6505.

Volatility levels continue to gradually fall in foreign exchange
as the USD remains stable and range-bound. This stability is shown in today’s close in the USD index, of 79.9, which is less than 0.2% away from the close 5 week’s ago. AUD/USD and NZD/USD are relatively unchanged on the week, reflecting the small movement across commodity prices. Crude oil fell by only 1.2% this week.

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