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France’s Spain plays down China risk

FXStreet (Mumbai) - French Finance Minister Sapin is the latest additions to the list of the Eurozone bigwigs who believe turmoil in the Chinese stock markets is not a threat to the global economy.

Key Quotes

Recent Chinese market turmoil isn't a threat to the global economy.

Chinese economy turning to domestic demand is an "opportunity" for the country and for the global investors.

USD/JPY stays in the red around 120.40

The increased bid tone on the US currency failed to lift the USD/JPY pair from the negative territory, as the JPY bulls appear to retain control ahead of Europe open.
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ADB lowers growth outlook for Asia

The Asian Development Bank (ADB) has revised its growth forecast for the developing economies in the region, due to a lowered outlook for China and India and a weak recovery in the world's advanced economies.
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