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Flash: BoE dovish – TD Securities

FXstreet.com (London) - Jacqui Douglas, Senior Global Strategist, Rates and FX Research at TD Securities said that with today’s dovish reports, we saw GBP/USD slip below 1.51, reaching its lowest level since early April. Adding, that GBP is now battling AUD and NZD for worst-performing G10 currencies on the day.

The team noted that Gilts are outperforming bunds and treasuries again today, with the BoE minutes leaving the door open to further QE at some point down the road. Jacqui Douglas suggested that the next big market driver will be Fed Chairman Bernanke’s testimony at 3pm BST, which will either but the brakes on all the tapering talk, or will give treasury yields the green light to start running higher again.

EUR/JPY – sildelined - Commerzbank

Analyst, Axel Rudolph at Commerzbank noted that the EUR/JPY cross has spent over a week sidelined just above its triangle, saying that the divergence of the daily RSI suggests a loss of immediate upside momentum and should provoke a small retracement near term.
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EUR/USD retraces off highs back to 1.2941/42

The EUR/USD has come to life recently during European trading, moving higher and establishing fresh intraday maximums at 1.2957 Wednesday.
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