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Flash: USD continues to be buffeted by Fed expectations - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that USD continues to be buffeted by expectations towards the Fed as disappointing US GDP numbers and weekly claims numbers propelled the majors higher instead.

Elsewhere, he notes that the NZD under performed across the board following the latest intervention remarks while the AUD also trailed its G10 counterparts. He writes, “During LDN hours, the USD/JPY jumped temporarily past 101.50 on news that Japan’s Government Pension Investment Fund (GPIF) may be permitted greater flexibility to leave its investments in domestic stocks during a rally.” Looking ahead, he expects markets to be particularly sensitive to US data points. He adds, “On our end, the final GDP revisions overnight typically do not have such a significant impact on asset markets and last price action against the greenback continues to highlight investor sensitivity at this juncture.”

UK: Apr M4 Money Supply (MoM) increases 0.3%; (YoY) falls 0.1%

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GBP/USD holding at 1.5200

The GBP/USD was trading in the heights of 1.5241 (session high) earlier today during European trading, before waning back towards the 1.5200 level following the release of data in the UK.
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