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Forex Flash: Fed Bullard open to scaling back QE if conditions match - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that yesterday, St. Louis Fed President Bullard gave a speech and emphasised the more powerful monetary stance this year compared to last year.

He comments Bullard mentioned that the outright purchases of USD 85bn of securities now plus the specific link of rate changes to an unemployment level made the stance much more aggressive. Halpenny writes, “He added that he wanted to see how the economy performed through the Spring before deciding whether the current degree of easing was appropriate. The initial claims data yesterday offered hope that the US economy is improving. Industrial production will be the main economic data release today.”

Forex Flash: Fed to slow asset purchases pending unemployment – Deutsche Bank

The Fed's Bullard reiterated that it made sense for the Fed to slow asset purchases as data improved, rather than to suddenly bring the purchases to a halt, and said this could even be done in a formulaic manner where for every one-tenth decrease in the unemployment rate, the pace of purchases could be brought down by $15B per month.
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Forex Flash: USD/JPY looks technically bullish - Nomura

Nomura Strategist Saeed Amen has taken a look at USD/JPY from a purely technical perspective.
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