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Forex Flash: Chances of tapering QE has risen materially - Nomura

As Nomura explains, "the minutes for the Jan 29-30 FOMC revealed that many FOMC participants were concerned about potential costs of QE and that there was difficulty in setting numerical thresholds for tapering/ending QE3."

Nomura adds that while QE3 has worked well in supporting the economic recovery, "the chances of ending/tapering asset purchases before the outlook for the labor market improves substantially has risen materially" the bank said.

Looking ahead, the bank sees "an increased possibility that the Fed could show a more detailed cost-benefit assessment of QE3 in the policy statement and introduce a framework to flexibly adjust the pace of asset purchases as early as the March meeting."

Forex: Yen retains weaker tone on BoJ candidates headline

The sensitivity of the Japanese Yen to headlines related to prospects of BoJ candidates remains at very high levels. The latest fresh info out of Tokyo-based Mainichi news is that Japan's dovish policymaker Mr. Iwata, together with Asia's Development Bank Chief Mr. Kuroda are the leading candidates for the position of BOJ head.
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China Feb MNI Business Sentiment Indicator increase to 61.79 vs 55.16

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