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ANZ cuts iron ore price forecast for 2015

FXStreet (Bali) - ANZ has cut its 2015 iron ore forecast to a $78/tonne from $101, Reuters reports, due to oversupply and a slow down in Chinese demand, largest global buyer.

ANZ said, cited by Reuters: "A combination of tough government reform, a weak housing market, and increasing supply mean most see little upside in iron ore prices over the next two years."

USD/JPY: Brief drive below 114.00

USD/JPY has had a brief drive below 114.00, taking out some weak stops, before reversing higher, with lack of follow through seen so far.
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Clarifying the dollar’s upside and oil’s downside – J P Morgan

John Normand of J.P.Morgan Group comments on the Dollar-Oil relationship stating that FX and Oil are not two sides of the same coin given the role of supply in crude’s collapse.
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