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Flash: Yen supported by more risk-averse trading conditions - BTMU

FXstreet.com (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Misubishi UFJ notes that the yen has continued to firm modestly in the Asian trading session with USD/JPY moving closer to support at the 100.00-level.

He sees that the yen is deriving support from more risk-averse trading conditions with global equity markets weakening further overnight with the Nikkei 225 index declining by just over 3.7%. JGB yields have declined alongside the sell off in Japanese equities perhaps indicating that conditions are beginning to normalise in the JGB market after the recent sharp sell off.

Flash: ECB rate cut not expected in June - DBS Group

DBS Group analysts comment that the European Central Bank (ECB) Governing Council is not expected to follow through with another rate cut when it meets on June 6.
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Flash: European PMIs head higher - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale writes, “I'm not sure if Sweden is leading indicator of much beyond anti-gnome advertising, but they kicked off Europe's pmis on a positive note.”
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