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Flash: A slow start to the week - BMO Capital Markets

FXstreet.com (Barcelona) - Stephen Gallo, European Head of Currency Strategy at BMO Capital Markets notes that it looks like a quiet start to the week as the market returns from holidays in both the US and the UK.

He sees that the main event this week will be tomorrow’s BOC rate decision where the market is expecting rates to be left on hold at 1.00%. This will be Carney’s last meeting before his move over to the UK so it may garner a little attention. He writes, “Range trading looks set to dominate today, and we would look to buy any dip back towards 1.0280/1.0300. Strong resistance still lies near the recent highs towards 1.0400 and a break above there should trigger an assault at the 1.0500 area. No domestic data releases today.”

Flash: AUD remains under downward pressure - BTMU

Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the Australian dollar remains under downward pressure with AUD/USD having tested support at the 0.96-level for a second time.
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Flash: USD/JPY 102.95/00 should be strong technical resistance now –TD Securities

Research teams at TD Securities said that the daily USD/JPY chart shows the market recovering strongly from the 101.05 trend support on the day but price action overall last week in USD/JPY was outright bearish
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