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Flash: Yen corrections continue to be shallow - Societe Generale

FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale note that the yen's corrections continue to be shallow affairs relative to the size of the currency's fall since last Autumn.

He adds that Mr Kuroda expressed a relaxed view of the JGB yield rise, an Abe advisor suggested the BoJ would go on easing, nerves were calmed and here we are. He write, “I would rank my relative degrees of confidence as 1) very confident in further yen weakness, 2) very confident JGB yields will go higher in due course, 3) confident the Nikkei will rise further but suspicious for now that we may see a more choppy/trendless trading pattern for a few weeks or months and 4) hopeful but not sure that all this turns in positive feedback loops for the economy above the sentiment improvement we have seen so far.”

USD/CHF held in check by 0.9700 barrier

The USD/CHF has been flirting with stability above the 0.9700 level all day Tuesday, with little luck, despite a brief peak earlier during European trading at 0.9706.
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USD/CHF 0.9700 coming back into play

The franc has lost some ground again to the dollar as traders get back from their lunch break saving their ‘apatite’ for 0.9700 perhaps?
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