12/02/08 - Daily Forex Market News from cmsfx.com

European Stock Rally Boosts Euro, RBA Cuts Rates by 1%
Tuesday, December 2nd, 2008

The RBA cut rates by 100 basis points to 4.25% and the Euro rallied on the back of strong stock gains. There was a return to risk appetite as traders focused on interest rate cuts from several central banks this week. The Pound was unable to sustain any kind of rally.

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