Microsoft ends Windows 7 support: What should you do?

Cyber-security experts are urging Windows 7 users to upgrade their operating system.

Microsoft is going to stop supporting Windows 7 from Tuesday so that it can focus on “newer technologies”.

As a result, Windows 7 users will no longer receive the all-important security updates and patches that keep their machines safe.

One in four Windows users is running Windows 7, according to statistics website StatCounter.

What does this all mean?

It means that Microsoft is ending the cat-and-mouse game with hackers seeking to exploit software bugs in the Windows 7 operating system.

If perpetrators find a flaw in Windows 7, Microsoft will not fix it.

Without continued software and security updates, Windows 7 machines are more likely to be infected with viruses and malware, Microsoft wrote on its website.

“Running an unpatched machine means that the flaws in the code will never be fixed and as exploits for those flaws become known and widespread, your chances of being successfully attacked grow very rapidly,” said Rik Ferguson, vice-president of security research at Trend Micro.

David Emm, a senior security researcher at Kaspersky Lab, added that people need to move to a supported operating system as soon as possible.

What are the risks?

Hackers use malware to invade, damage or disable computers.

It can be used to steal personal and financial data, spy on other users without them knowing, and to hold companies to ransom until a payment is made.

In May 2017, the NHS was hit by the WannaCry ransomware attack.

A government report in 2018 concluded that the attack could have been avoided if NHS Trusts had updated their computers and applied the necessary security patches.

Hackers exploited weaknesses in unpatched versions of Windows 7, as well as to a lesser extent the earlier Windows XP, which Microsoft had stopped supporting.

What should you do with your Windows 7 PC?

Computers running Windows 7 will still function after Tuesday but they will become less and less secure.

Microsoft is urging people to move to Windows 10, a newer operating system that it sells for £120.

“Going forward, the best way for you to stay secure is on Windows 10,” it said. “And the best way to experience Windows 10 is on a new PC.”

It is possible to install Windows 10 on old PCs but Microsoft warns that it may not run smoothly.

In order to run Windows 10, PCs must have a 1GHz processor, 16GB of hard drive space, and 1GB of RAM memory.

“While it is possible to install Windows 10 on your older device, it is not recommended,” Microsoft said.

That said, Windows 7 users do not need to upgrade if they use their PC offline.

What do UK officials say?

UK authorities have warned Windows 7 users not to do internet banking or send emails after Tuesday.

The warning was issued by the National Cyber Security Centre, which is part of Britain’s intelligence agency GCHQ, and first reported by The Telegraph,.

“We would urge those using the software after the deadline to replace unsupported devices as soon as possible, to move sensitive data to a supported device and not to use them for tasks like accessing bank and other sensitive accounts,” an NCSC spokesperson told the BBC.

“They should also consider accessing email from a different device.”

What about for businesses?

Some companies rely heavily on applications that only work with Windows 7.

Businesses can pay Microsoft if they want to continue getting updates for Windows 7 Professional or Windows 7 Enterprise.

The Windows 7 Extended Security Updates will be available until 2023 for businesses of all sizes.

Charges range from $ 25 (£19) per device to $ 200 per device and increase each year. The costs will mount quickly for organisations with lots of computers.

For businesses, it is not always easy to upgrade to a newer operating system, Mr Ferguson said.

“There may be business-critical applications that will not run on newer operating systems, or there may be significant costs associated with upgrading those applications,” he said.

Places like hospitals and factories may have equipment that is designed to run exclusively on Windows 7.

“The user is not always able to upgrade without voiding the warranty,” said Mr Ferguson.

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Forex: Dollar Flat as Weaker Jobs Report Should Keep Fed Sidelined

© Reuters.  © Reuters.

Investing.com – The U.S. dollar was flat on Friday as data showing the U.S. economy created fewer-than-expected jobs in December did little to suggest the Federal Reserve needs to move off the sidelines.

The , which measures the green against a trade-weighted basket of six major currencies, fell by 0.07% to 97.09.

The U.S. created jobs last month, undershooting economists’ forecast of 164,000.

The remained unchanged at 3.5%, but wage growth slowed to a pace of 0.1% last month, missing expectations of 0.3%.

Following the weaker-than-expected jobs report, BMO said there was little reason for the Fed to move from the sidelines as the trend of steady job growth, low joblessness and still-subdued wage inflation continued.

and , meanwhile, were also largely flat falling, 0.07% and rising 0.13% respectively.

Cable took a drubbing earlier this week and remains under pressure after Bank of England hinted at more monetary stimulus.

“We estimate that a Bank of England-prompted 50-basis-point widening in the one-year/one-year rate differential might knock 180 pips off cable,” ING said in a note.

was unchanged at C$ 1.305 as a firmer from Canada eased concerns about the labor market following November’s, underpinning the loonie.

The Canada jobs report trimmed expectations that the Bank of Canada will cut this year, but RBC said it believes the central bank will still be forced to act to support the economy.

“These were the jobs numbers we were all hoping for following November’s ugly employment report,” RBC said. “But these numbers on their own won’t necessarily keep the Bank of Canada on the sidelines.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Japan’s Abe: All parties should avoid escalating tensions in the Middle East

Abe will not be too happy if this leads to significant yen strength

  • Calls for all parties to work on diplomatic efforts to ease tensions instead

ForexLive

I think he can take some comfort in the fact that USD/JPY is still keeping above the 108.00 level in all of this. The worry for the Japanese government and the BOJ is that further escalation may see more safety flows into the currency and that will threaten their inflation targeting.

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Ten mistakes all successful FX traders should avoid

Ten mistakes to avoid when trading FX

Ten mistakes to avoid when trading FX

If you aim to become a successful and profitable forex trader, there are a number of seriously damaging mistakes that you’ll want to avoid. It should go without saying that you will make some mistakes when learning how to trade.

It’s simply unavoidable. This is not necessarily a bad thing, as mistakes allow you to learn and grow. The ten mistakes that you’ll read about below are among the most common and as such, tend to be the most damaging when not noted and corrected.

1. Entering into too many trades at once

If you’re entering into multiple trades at once, you’re likely over-trading. Each trade deserves your full attention to help ensure that it is profitable. Dividing your attention among multiple trades will only decrease the odds of each of those trades resulting in profit. Less is more when trading FX and the sooner you realize this, the better off you’ll be.

2. Devoting too much time to analysis and trade planning

While trade analysis is necessary, it can take up too much of your time. You may even find that you’re spending way too much time in the planning phase and very little actually trading. There will only be a number of optimal entry points each day. Don’t miss out on too many of these by being locked into exorbitant trade planning.

3. Placing too much focus on short-term charts

Trading too frequently on the short-term charts can lead to over-trading and over-trading can lead to fast losses and a gambling-like approach to forex trading. Additional, critical data comes from higher time-frame charts such as those seen within the EagleFX platform, and these charts tend to be more important than lower time-frame charts. With higher time frames, you’ll receive more reliable signals and a reduction in your stress levels.

4. Bypassing the opportunity to trade on a demo account

One should never trade with real money before trading with mock funds using a demo account. Even if you’ve done your homework and are certain that you know how to trade, you need to see trades in action within a platform. EagleFX offers free, unlimited demo accounts to all. Visit them now to create a practice account and avoid this terrible mistake.

5. Trading solely based upon the news

Don’t assume that you know which way the market will move based solely on the news. Far too many traders have experienced serious losses due to making this mistake. You absolutely must carry out technical analysis with fundamental analysis on each and every trade.

6. Thinking that past “wins” guarantee current profits

So, you’re last ten trades using the same parameters and selections were all winners. Congrats! Now, don’t make the mistake of assuming that if you open yet another using the same selections that it too will be profitable. Yes, trading with the trend can result in a round of easy profits, but each trend has to end a some point. Always remember this.

7. Trading out of desperation

If you’re feeling a sense of urgency to trade, then you’re likely better off walking away. Terrible decisions come from trading during desperate times. Take a break, collect yourself, and make a new plan before trading again.

8. Failing to follow the process

Although each trader may use their own strategies, there are general steps that all traders should follow when trading. Skipping past some of these (particularly analysis) can result in losses. Follow the process laid out by the successful traders who have come before you if you want to have the best odds of being successful.

9. Making unplanned changes to live trades

Just because trading platforms such as the MT4 platform provided by EagleFX allows for changes does not mean that you should make them. No doubt, strong emotions can come from watching price movement during a live trade. Acting on these can cause problems though, so unless you are 110% positive that you’re doing the right thing, leave your open trades alone!

10. Entering the market after an optimal entry point has passed

Missed an optimal entry point? Move on. Never assume that you can jump into a trade soon after a missed entry using the same expected price movement and profit. Yes, it can sting to miss out on a great entry point, but others will come along.

What truly sets the best forex traders apart from the worst is that the best are those who have made mistakes such as the ones mentioned above, but took action to correct them going forward. Those who do not do this may end up making the same mistakes over and over again, eventually draining their trading account.

Select a top-tier broker such as EagleFX, establish a solid plan for trading, and make corrections when necessary. If you do these things, you can expect to come out on top.

This article was submitted by EagleFX.

ForexLive

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Bonds flash recession warning – should the FX market panic?

What happens now as bonds signal a massive red flag to markets?

Markets.com
It had been heading that way for a while, but on August 15th the US yield curve finally inverted. Or, rather, the main part of the curve inverted. The spread between the three-month and ten-year US treasuries has been negative since May.

But it’s the two-year versus 10-year spread that traders, economists, and central bankers really pay attention to.

Why? Because historically an inversion here has preceded a recession more often than not. The curve inverted before the dot-com bubble burst in 2001, and again in 2007, just before the financial crisis of 2008.

It’s not a cast iron signal, but it’s as strong as it gets that the US economy is headed for a downturn.

What should FX traders do?

For starters, remember that an inverted yield curve is not a guarantee of a recession, nor is it a warning that one is imminent. If a downturn is coming, it could still be a year or two away. Currently the US economy is in respectable shape.

Growth has slowed, but remains firm. Unemployment is at multi-decade lows and wages are growing well. Inflation is pretty much where the Fed wants it to be.

Obviously, the potential for a global recession will hit the high-beta emerging market currencies hardest. Currencies like the rand and the rupee have plummeted in recent sessions. The fastest growing economies will not fare well if demand stutters.

The commodity trio will also suffer. Australia supplies iron and copper to a hungry Chinese manufacturing sector, but this will take a knock. The Aussie and Kiwi have also been hurt by sharp downwards rate corrections from their respective central banks.

More loosening could be on the way if growth falters; the question here is whether the more stable majors will also be weakened by domestic stimulus to minimise the divergence.

The Loonie has performed quite well of late, helped by a solid economy, but it is still sensitive to developments in the oil markets. A slowdown in growth will dent demand for crude.

The yen and the Swissy have both rocketed higher in recent weeks. Their safe-haven appeal could drive them higher still as investors step away from riskier parings.

While the dollar is usually a popular safe-haven play, it remains to be seen if the Federal Reserve is going to play ball with market expectations, or tread its own, more hawkish, path.

If the Fed is poised to deliver several more cuts over the coming year or so, the dollar may find some of its appeal undermined.

Meanwhile, the euro could be staring down the barrels of another ECB policy bazooka should the Eurozone stutter. Recent data showed a contraction in Germany’s economy. Quantitative easing could be redeployed, and rates could head lower.

A recession might be enough to cause waves for Sterling, which has for a long time now been insulated from the wider markets by traders’ laser-like focus on the outcome of Brexit.

Timing matters

A recession is not guaranteed. And even if one is coming, we don’t know how soon. The main risk for FX traders lies in the timing. Those who head for the havens or short the riskiest currencies too soon could be caught out by more positive developments on trade and monetary policy.

But chasing high yields with the spectre of a global downturn on the horizon also has its risks.

This article was submitted by Markets.com.

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Weathering the storm: Why safe haven assets should interest you

A look at safe haven assets as we brace for a period of uncertainty

CMS 1
Ongoing discussions are swirling about President Trump and President Xi’s meeting at the G20 summit In Japan. This was a high-stakes meeting with concerns about a slowdown in global growth, through a protracted trade war, the forefront of investors’ minds.

It is not hard to see why this is the case since 40% of the world’s GDP comes from the combined economies of the US and China. The meeting left many questions unanswered, and ultimately a backpedaling from the implementation of tariffs.

Trade with CMS Prime today

However, given Trump’s volatile nature, nobody knows if further tariffs will be threatened, making traditional safe haven assets enticing. This article will point out some of the go to safe haven assets that should interest you should the ongoing trade war take a turn for the worst.
ForexLive

Going for Gold

With the Federal Reserve having recently signaled a rate cut in July there is now a growing expectation of a global low interest rate landscape that could last for some time. One of the results of this has been the growing value of Gold against the USD.

Before the last FOMC meeting Gold was kept underneath key weekly resistance on the XAU/USD chart, but with the dovish shift from the Fed Gold broke out of that level. See chart below:

CMS 2

The technical breakout is clean and convincing and a downturn in the latest G20 US-China trade talks will result in further Gold buying. The downside of owning Gold is that, unlike Bonds and Stocks, you do not get a return for holding the asset.

So, with US equity markets at their highs and bond yields falling across the world, Gold is once again regaining its attraction. A US-China trade war storm will complete the fundamental picture to that technical and result in further gold strength going forward. When investors face very stormy markets, they like to go for Gold.

Bolting for Bonds

High grade bonds become a place of safety in uncertain times, since they are a better than holding cash, but they still do offer a fixed rate of return if the blind is kept for its full term. The investing legend, Benjamin Graham, recommended having a 50-50 split between bonds and equities and not allowing that ratio to differ by more than a 75-25 ratio split.

In other words, in uncertain times, he recommended having up to 75% of your portfolio in bonds. This would therefore make high grade government bonds, like US treasuries and UK gilts, attractive in stormy and uncertain financial.

Yearning for Yen

The Japanese Yen is a traditional safe haven currency. Negative interest rates, like the Bank of Japan currently has, would typically discourage currency capital inflows. However, the debt structuring of Japan means that the currency is considered very stable and safe for uncertain times.

As a result, when investors and speculators are fearful, there are sudden and marked inflows into the Japanese Yen. The pair that stands out for particular downside in a fresh round of the ongoing US-China trade war would be the AUD/JPY pair.

As around 30% of Australia’s economy is made up of trade with China it stands to lose out on a US-China trade war. Further trade strain would result in AUD weakness and JPY strength on safe haven flows.

Swinging to the Swiss franc

Another safe haven currency that would attract safe haven flows would be the Swiss Franc. That would see safe haven flows resulting in CHF strength. However, it is worth bearing in mind that the Swiss National Bank (SNB) has an interest in ensuring that the CHF does not become too strong.

As Switzerland has an export economy a strong CHF hurts its exporters. As a result, the SNB maintains periodic intervention in the CHF. If the CHF becomes too strong, be alert to the possibility of intervention.

In certain times let the US Dollar Index be your guide

The Federal Reserve is the most important central bank in the world with the US dollar being the most traded currency in the world, comprising of around 70% of all transactions on a given day. So, having a handle on what the Dollar is doing overall on any given day is going to be a key advantage for any trader. The Dollar Index will help you do just that.

The US Dollar Index is a guide for the direction of the USD in any pair

Trading any pair with a USD half will be guided by the USD index, so here are a couple of key facts to keep in your mind:

• If the USD is the base currency (USD/xxx), then the US dollar Index and the currency pair will typically move in the same direction.

• If the USD is the quote currency. (xxx/USD) then the US dollar index and the currency pair will typically move in opposite directions.

The US dollar index and the smile theory.

CMS 3

The US dollar index can give you a quick broad picture of the dollar and help you see what is going on with the market. The smile theory is worth mentioning since it is such a good way of expelling the three varying ways the dollar responds to different situations. If you look at the picture above you can see a smile.

On the left-hand side of the smile you have USD strength, which is when the global economy is struggling. This is where you have JPY, CHF strength and USD gains too as it acts as a safe haven currency. The bottom part of the smile is where the USD depreciates on a dovish Fed. At the time of writing, in June 2019, the USD is falling with a more reserved Jerome Powell looking at a rate cut in July.

The right part of the smile is when the USD gains value on a hawkish fed and a risk on environment. This smile theory is useful as a quick rule of thumb for understanding the dollars present position and what is likely to happen next.

There is normally an inverse relationship between the value of the dollar and commodity prices. By getting into the habit of noticing the USD index as soon as you start trading you can speed up your analysis on the dollar and also gain invaluable insights to inform your next trading decision.

This article was submitted by CMS Prime.

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Barnier: Short extension should be conditional on positive vote in UK

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect’s individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.

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Completion of European banking union should be a priority: De Cos

© Reuters. The © Reuters. The “super blood wolf moon” is seen during a total lunar eclipse over the skyline next to the headquarters of the European Central bank in Frankfurt

MADRID (Reuters) – Completion of the European banking union should be a priority as the region approaches elections in May, European Central Bank policymaker and governor of the Bank of Spain Pablo Hernandez de Cos said on Friday.

"Completing the banking union and developing a European capital market union are fundamental goals to achieve the adequate and stable functioning of the European economic and monetary union," de Cos said during a conference.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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China central bank adviser says China should defend yuan at seven yuan per dollar

© Reuters. Illustration photo of a China yuan note © Reuters. Illustration photo of a China yuan note

BEIJING (Reuters) – China should not allow the yuan to fall below 7 per dollar or attempts to stabilize the currency will become more costly on the country’s foreign exchange reserves, Sheng Songcheng, an adviser to the People’s Bank of China, said on Saturday.

Policy insiders told Reuters in October that China was likely to use its vast currency reserves to stop any precipitous fall through the psychologically important level of 7 yuan per dollar [CNY=CFXS] because it could risk triggering speculation and heavy capital outflows.

"If we fall below this crucial point, then we will have to pay a greater cost to stabilize exchange rates," Sheng told a forum in Shanghai, according to financial media website WallStreetcn.com, the event’s organizer.

Stabilizing the yuan’s exchange rate would require significantly less of China’s foreign exchange reserves when the yuan is at 6.7 or 6.8 per dollar but the amounts required would rise sharply if the rate fell below 7, Sheng said.

To spend a certain amount now in order to defend the exchange rate was actually a means of preserving reserves because, if the market expected a fast devaluation, reserves would then be unable to prevent a drop in value, he said.

"The most important thing for us right now is to stabilize exchange rates and is not so-called exchange rate reform or the internationalization of the renminbi," he said.

The Chinese currency has lost nearly 7 percent of its value to the dollar since the beginning of this year and is approaching the 7 per dollar level, which was last hit during the global financial crisis in 2008.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Deutsche CEO says staff in money laundering probe should not be prejudged

© Reuters. 28th Frankfurt European Banking Congress (EBC) takes place in Frankfurt © Reuters. 28th Frankfurt European Banking Congress (EBC) takes place in Frankfurt

FRANKFURT (Reuters) – Deutsche Bank (DE:) Chief Executive Christian Sewing said two employees subject to an ongoing investigation into money laundering allegations should not be prejudged until proven guilty.

The interview with weekly Bild am Sonntag comes shortly after a two-day raid at Germany’s largest lender linked to the "Panama Papers" leak of documents about offshore finance. According to a source, the raid included police searching the offices of all the bank’s board members.

Investigators are looking into the activities of two unidentified Deutsche Bank employees alleged to have helped clients set up offshore firms to launder money, the Frankfurt prosecutor’s office said.

"It’s about two employees that, at the time, helped to work through everything surrounding the issue of the Panama Papers. In my view the presumption of innocence clearly applies until proven otherwise," Sewing told Bild am Sonntag.

"If we would prejudge our own employees at Deutsche Bank – most notably those that are working through relevant issues – something would be going massively wrong."

The investigation was triggered after investigators reviewed the so-called "Panama Papers", millions of documents from Panamanian law firm Mossack Fonseca, which were leaked to the media in April 2016.

"Since the publication of the Panama Papers in 2016 we have reviewed the whole issue and, in doing so, cooperated closely with the regulatory authorities. For us the case was concluded," Sewing was quoted as saying by the weekly.

"We have thoroughly worked through the Panama Papers, there are independent expert opinions on the matter."

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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