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Asian markets rise, Korea outperforms and Japan up ahead of BoJ

The new BoJ Governor will be nominated soon and investors saw it as a chance to sell more Yen and embrace equities. Japan's Nikkei Stock Average rose +0.84%. The top performer of the session was, however, South Korea's Kospi as it gained +1.95%. Mainland China's Shanghai Composite edged higher by +0.60% and Hong Kong's Hang Seng rose +0.42%. Indexes in Malaysia, India and Indonesia moved were somewhat pressured.

Futures for the German DAX 30 and the French CAC 40 are signaling a flat opening after already seeing the release of German January CPI, in line with consensus, and PPI, with annualized rise from 1.5% to 1.7%, instead of easing to 1.2% as expected. French CPI and business climate come ahead.

Forex: GBP/USD around 1.5440 ahead of minutes

The sterling is bouncing off overnight lows around 1.5430 ahead of the BoE minutes due later. The GBP is posed to remain under pressure following the minutes as market participants expect their...
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Forex: USD/JPY extending weekly losses

Despite the rise in equities ahead of expectations of a “stimulating” BoJ, the USD/JPY moved lower on Wednesday. Retracing late US session gains and dropping to lower levels in the week, coming as low as 93.14.
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