GBP is the biggest loser in Monday trade, with falling UK lending prompting the damage. Lingering doubts over UK banks' exposure to the Dubai fallout remains a question mark. Dubai's statement that it will not guarantee Dubail World's $59 bln in debt was offset by positive comments from the major credit agencies. USDJPY remained confined at 87.00-85.80. Cable now capped at by new resistance at $1.6520. All eyes shall fall on the Aussie and the RBA decision due 3:30 am GMT. RBA preview coming up in next IMT.
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