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Flash: Commodity currency outlook on a shallower US downturn for Q2 – JP Morgan

FXstreet.com (London) - Craig MacDonald, Media Relations, Markets & Investor Services, J.P. Morgan said that the bank mark down several forecasts to reflect a shallower US downturn in Q2, a longer Chinese slump and a more protracted European recession, all of which are pushing US rates higher versus most other regions.

Their new Q2 targets are EUR/USD 1.30 (1.32), AUD/USD 0.99 (1.05), USD/BRL 2.05 (1.90), USD/ZAR 9.20 (8.90) and USD/TRY 1.85 (1.80). They said that the dollar appears to be discounting a significant change in Fed policy well ahead of what we consider a less momentous event.

Bank Policies to Drive EUR - Band of America Merrill Lynch Global Research

Tomos Rhys Edwards, Senior Vice President, Communications and Media Relations at BofA Merrill Lynch Global Research
Said that there are expectations for central bank policies to drive the Euro.
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EUR/JPY falls to session lows

The euro fell to a session low against the yen at the beginning of the American session, as US investors assess Japan minister Amari comments.
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