GBP/USD extends losses to $1.6250 with a clean break under opens the way down to $1.6230 ahead of $1.6220/15. Currently rate tries to recover, holding at $1.6263.

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12 May 2011

GBP/USD extends losses to $1.6250 with a clean break under opens the way down to $1.6230 ahead of $1.6220/15. Currently rate tries to recover, holding at $1.6263.

CHINA: China central bank raises deposit reserve requirement 50bps; PBOC reserve hike to take effect May 18.

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