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Forex Flash: Increase in yen outflows to drive USD/JPY towards 110.00 - UBS

Japanese mutual funds bought overseas assets in April, likely triggered in part by the BoJ’s decision to embark on a bolder round of easing on April 4th, says Gareth Berry from UBS.
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Forex: EUR/USD capped below 1.2900

EUR/USD is currently trading at 1.2876, off session lows at 1.2870, capped below late NY session highs at 1.2894, where stop losses are placed now. “There are some very tight trailing stops now above 1.2895 in the EUR/USD (mainly from leveraged types) which will probably be targeted in the next few hours,” noted FXWW founder Sean Lee.
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