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Flash: The Swiss franc has continued to weaken - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that the euro is at 2-year highs against the Swiss franc and although the euro has been appreciating since mid-April, the trend has accelerated.

Further, they comment that yesterday the IMF advocated that the SNB consider a negative deposit rate if the franc came under new pressure. The market focused on this more than the IMF's other advice that the SNB should take advantage of franc weakness to unwind some of its balance sheet expansion. They write, “Today the SNB's Jordan indicated that a negative deposit rate and/or a shift in currency cap are still policy options. Many are talking about the euro rising toward CHF1.30 now that the CHF1.25 area has been convincingly breached. The next big target against the dollar is CHF1.000.”

Flash: No change at BoJ as Abenomic stutters - Societe Generale

Societe Generale strategist Alvin Tan notes that this morning, the BOJ pledged to maintain its commitment to double the monetary base between 2012 and 2014, so no change in policy.
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GBP/USD volatile while Bernanke speaks

The road map for exiting the programme is still a long one and that language of tapering came too soon.
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