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German Chancellor Merz signals resistance to EU taxation plans

Chancellor of Germany Friedrich Merz flashed warning signs on Thursday, warning European Union (EU) plans to shore up budgets using new or increased corporate taxation schemes will likely meet resistance from the German contingent.

Key highlights

(The EU) needs to discuss the size of the future budget.

The EU has to make do with the money it has.

It is unacceptable to finance the EU budget through EU-wide corporate tax.

United States 4-Week Bill Auction fell from previous 4.235% to 4.23%

United States 4-Week Bill Auction fell from previous 4.235% to 4.23%
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GBP/USD slips on robust US data as Fed cut odds fade

The GBP/USD drops during the North American session, edges down 0.07% following the release of strong US economic data that boosted the Greenback which hit a new July high as it recovers some ground at the beginning of the second half. At the time of writing, the pair trades at 1.3408.
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