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Weekly Forex News February 10th 2013 FCTOFX: Markets turned into corrective mode last week and pared back some of the powerful moves made back in January. Comments from central bankers were the main driver that halted the near term trend and triggered the pull backs. The Euro was broadly lower after European Central Bank president Draghi mentioned that a strong euro could slow the region's economy. The Japanese Yen recovered as finance minister Aso said the recent decline was too fast. Sterling, rebounded as incoming Bank of England governor Carney dented speculation of a radical change in monetary policies. Meanwhile, the Australian Dollar was weighed down by a dovish Reserve Bank of Australia monetary policy statement. The US Dollar benefited from the move in the Euro and closed higher against other major currencies except the yen and sterling. The dollar index has indeed closed above the 80 psychological level again.