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Monday, 17 August 2009 - Market Commentary

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The Australian Dollar opens the new week lower at 0.8283. The Aussie hit an eleven-month high of 0.8475 last Friday after the Reserve Bank of Australia governor Mr Glenn Stevens said a normal cash rate is noticeably higher than the current level of 3 per cent.

Britain may tighten laws on bankers' pay: Darling

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The British government is prepared to tighten the laws on bankers' pay and bonuses if companies continue to reward excessive risk-taking, finance minister Alistair Darling told the Sunday Times newspaper.
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Germany and France exit recession

Germany and France achieved a shock return to economic growth in the second quarter of the year, ending their recessions earlier than many policymakers and economists expected, but failed to drag the euro zone with them.
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Germany, France exit recession early

Germany and France enjoyed a shock return to economic growth in the second quarter of the year, data showed on Thursday, ending their recessions earlier than many policymakers and economists had expected.
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Forex Daily Commentary - 13/08/2009

Australian Dollar: Local investors were slightly disappointed by yesterdays Westpac Consumer sentiment index release sending the Aussie dollar down from early morning levels around 83 cents.
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BHP cautions on outlook as metals bash profit

BHP Billiton Ltd/Plc , the world's largest miner, gave a guarded outlook for global commodity demand, sending a worrying signal for weaker rivals, after a slump in metals prices triggered its first profit decline in seven years.
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Lloyds sells Insight to BoNY in fund shake-up

Britain's Lloyds said on Wednesday it would sell the bulk of its Insight Investment unit to Bank of New York Mellon for 235 million pounds ($386 million) as part of a shake-up of its asset management units.
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Lloyds to sell Insight to Bank of New York Mellon

Lloyds Banking Group said it will sell its Insight Investment unit to Bank of New York Mellon for 235 million pounds ($386.2 million), following the completion of a strategic review of its asset management business.
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Forex Daily Commentary - Aug 12

Despite a relatively upbeat NAB survey on business conditions the Aussie dollar retreated from its intraday highs at 0.8380 in Asia yesterday dropping to a low of 0.8320 with the market questioning the sustainability of the recent rally in equities.
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Neil Young honored for his

Eclectic rocker Neil Young, who has made no secret of his disdain for the Grammys in the past, is receiving a humanitarian award from the group that hands out the music industry's top honors.
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Drama balances comedy at Edinburgh Festival Fringe

Shakespeare, 18 years on death row in a Pakistani jail, and a famously alcoholic writer are just a few of the serious dramas that balance the zany comedy shows at this year's 63rd Edinburgh Festival Fringe.
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Myanmar's Suu Kyi ordered back into house detention

A court in army-ruled Myanmar on Tuesday sentenced opposition leader Aung San Suu Kyi to 18 months in detention, a verdict that drew condemnation abroad and will keep her off the political stage ahead of next year's elections.
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Adecco downbeat on staffing markets after Q2 loss

Adecco, the world's largest staffing group, said on Tuesday it had still not seen any recovery in its main European and U.S. markets and launched a new round of cost-cutting to protect profitability after a sharp drop in sales in the second quarter.

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