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Forex Flash: USD/JPY could climb to 100.00 in 2013 – Danske Bank

The Japanese yen continues to trade in a narrow range on Thursday, hovering over the area of 92.30/35
According to Senior Analyst C.Tuxen at Danske Bank, the recent appointment of H.Kuroda to be the next BoJ Governor would accelerate the measures to reach the 2.0% inflation target via a more aggressive easing.

“We believe today’s nominations reflect a formal shift in Japanese monetary policy and that purchases of government bonds will be ramped up by BoJ. Notably, we do not believe that this is fully priced by the market despite the yen weakening seen in recent months: our 2013 targets for USD/JPY and EUR/JPY are 100 and 134, respectively. We recommend to still be short yen at this stage”, concludes de expert.

Forex Flash: US housing data helped mitigate market slide – Goldman Sachs

Stronger than expected housing data in the US this week helped to arrest a market slide, and reinforced the importance of the housing sector for the US outlook. According to the Economics Research Team at Goldman Sachs, “Housing activity also remains an important marker across the developed world, with nominal house prices recovering, due in part to local cyclical recoveries and in part to the transmission abroad of exceptionally low US rates.”
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Forex Flash: USD/JPY looks bullish ahead - BTMU

Bank of Tokyo Mitsubishi UFJ analysts are bullish on USD/JPY for the week ahead and see spot moving within a range of 91.50-94.50.
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