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Forex Flash: GBP/USD, range breakout allows 1.35 longer term - BBH

After the largely discounted headline of a UK downgrade, which became effective last Friday, the Sterling appears to have broken out of the consolidiative pattern that it has traced out since early 2009, says Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman. The downside resolution of the pattern, in the eyes of Marc, "will allow sterling to decline toward $1.48-$1.50 and possibly even back down to the $1.35 area in the somewhat longer term" he said. Should GBP/USD regains the $1.56-$1.57 area, it would negate this view, Marc adds.

Forex: USD/JPY higher on new BoJ chief headlines

In a quite busy Asian session ahead to start the week off, with Italian election results to come out, and HSBC flash manufacturing PMI China at 01:45, USD/JPY has printed yet another new multi-year high at 94.55 according to Oanda feed, on weekend news that a new BoJ chief could be chosen soon. The pair has shot up from a premarket interbank high at 93.50, gaining so far +1.04% from previous weekly close Friday, last at 94.35.
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Japan's economy minister unaware of Kuroda nomination talk

Japan’s economy minister Amari, who is speaking in Tokyo to reporters, is putting in doubt the early rumours floating the markets, after saying he is not aware whether or not Mr. Kuroda will be the BOJ nominee chosen by Mr. Abe.
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