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Forex Flash: No improvement in Eurozone economic - Nomura

FXstreet.com (Barcelona) - Nomura economists Silvio Peruzzo and Stella Wang note that within the realm of Euro area economics, Target2 data shows no major improvements in April.

They note that Target2 balances for Italy and Spain were little changed in April from March, pointing to persisting funding segmentation problems across the euro area. As they have noted in the past, relative to the peak levels reached last summer, absorption of Target2 balances in Spain to date is larger than in Italy. Further, they see that lack of private sector funding is and will likely continue to be accommodated by the ECB liquidity facilities currently in place, but the challenge to finance the real economy will require additional policy response at the country and centralized European level.

UK: Claimant Count Change falls further in April

The number of unemployment people in the UK dropped by 7.3K in the three months to April, following a 9.9K drop registered in the three months to March, National Statistics reported on Wednesday. This result is more positive than the expected 3K fall. The Claimant Count Rate was at 4.5%, following a 4.6% reading and lower than forecasts of remaining unchanged.
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Forex: USD/JPY eases off highs to 102.40/42

The USD/JPY rise was capped Wednesday following a movement up to the heights of 102.63 (resistance/session highs). The pair ultimately proved unstable at this mark, instead easing in recent minutes back to 102.40/42, where it resides presently. Despite the easing movement, the cross remains in positive territory, albeit at a marginal +0.01% advance during European trading.
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