The dollar majors have been holding narrow ranges for the most part, the euro trading slightly firmer, unperturbed by the indecisive election in Spain, and sterling rebounding from an early Asia drop. The pound took a dive in the early Asia-Pacific session in reaction to remarks made by BoE MPC Weale in an interview with the Telegraph newspaper, who said that "the factors pushing down on inflation have become a bit more prolonged," and there had been a surprising "pause in wage growth," the upshot of which was a "slightly less immediate" need to tighten policy.
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