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Forex Flash: USD/JPY watches Obama talks - OCBC Bank

Emmanuel Ng of OCBC Bank notes that USD/JPY may continue to exhibit a neutral/heavy bias in the near term ahead of the Abe-Obama meeting and with market focus currently diverted towards the Fed.

He writes, “As such, a further consolidation towards 91.40 in the near term cannot be discounted although fresh dovish comments from Abe (note the probable unveiling of the potential BOJ governor next week) may incite another renewed round of JPY vulnerability.”

Forex Flash: EUR correlations seen to be positive – Westpac

Asian currencies have not been immune from the resurgent USD trend through the course of this week. Most USD/Asia pairs have traded with a firmer bias, albeit while remaining within recent ranges. The ADXY has now dropped a little over 1% from its mid January peak. There are also signs that Asian currencies are starting to realign themselves with traditional drivers (at least compared with the past few years).
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Forex: USD/JPY searches for direction, trading at 93.27/32

The USD/JPY has oscillated between a sizable 57-pip range Friday (92.93 – 93.50), as the exchange is behaving in a volatile manner during European trading. In recent minutes the pair has rebounded off the 93.22 level after an earlier failed attempt to break higher. In these moments, the pair is operating at 93.27/32, up +0.18%.
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