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German unemployment dropped by 6K in May

FXStreet (Mumbai) - The provisional calculations of the Federal Statistical Office (Destatis) showed on Tuesday that the number of people unemployed in Germany dropped by 6K in May, compared to the estimate of 10K drop.

The previous month’s figure was revised lower to -9K from -8K. The unemployment rate remained unchanged at a record low of 6.4% in May.

RBI cuts policy repo rate to 7.25% - RBS

Sanjay Mathur, Head of Economics Research - Asia-Pacific (ex-Japan) at RBS, notes that the Reserve Bank of India cut rates by 25bps in line with expectations.
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EUR/GBP eases-off highs, near 0.7210

The shared currency stalled its upward rally versus its British counterpart in the European morning, with EUR/GBP easing-off fresh two week highs above 0.72 barrier. The cross retreated from session highs after euro received a blow from worse-than estimates German unemployment change numbers.
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