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Forex Flash: Only 2 out of 39 forecasters believe 2% inflation in Japan in 2-year is possible - Nomura

FXstreet.com (Barcelona) - According to Nomura Strategists Yujiro Goto, private inflation forecasts for Japan are lower than those from the BoJ, Yujiro says: “Even though the BOJ expects core CPI inflation to reach 1.4% in FY14, private forecasters consensus remains at 0.61%,” he points out, adding: “Inflation forecasts among private forecasters are gradually rising, as suggested from an other survey, but the magnitude is still limited."

"The survey also asked about the possibility of 2% inflation target being achieved in two years (by around March to April 2015), but only two out of 39 forecasters believed it is possible,” Mr Goto concludes.

Forex: Look to short bounces in GBP/USD – 2nd Skies Forex

The sterling finished sharply lower for a second straight day, closing down 83 pips to finish at 1.5219. Given the steep descent over the last few days, some analysts are looking at shorting any short term bounce with a few key levels in mind that offer favorable resistance.
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Forex: USD/SGD adds to gains, finishes higher for fourth straight day

The USD/SGD finished the day sharply higher, closing up 25 pips at 1.2430. The pair has been rising steadily the last four days, adding just over 150 pips since the close on May 9th. Economic data released out of Singapore in the coming session will be limited to Retail Sales, due out at 5:00 GMT. The pair is currently down eight pips at 1.2422 in Asia trade.
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