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Pessimism is holding back recovery – ECB’s Praet

FXStreet (Mumbai) - The European Central Bank (ECB) chief economist Praet was on the wires today stating that pessimism over the long-term growth is holding back economic recovery in the Eurozone.

However, Praet added that cyclical recovery in the Eurozone is progressively taking hold. Praet’s comments few minutes ahead of the ECB accounts, which are expected to show the policymakers are concerned about the low inflation and are ready do more (QE) if required.

JPY: BoJ’s hesitancy in policy easing contributing to firmer yen

Lee Hardman, Currency Analyst at MUFG, suggests that the BoJ provided no clear signal yesterday that further easing is imminent which is helping the yen to trade on a firmer footing in the near-term.
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GBP/JPY revisits daily lows on BOE

After recording fresh two-week highs at 184.12, the GBP/JPY cross failed to sustain at higher and reverted to the hourly 50-SMA support, with the sell-off triggered by the BOE decision.
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