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Forex Flash: BoJ acceleration of long-dated JGB main policy - Nomura

Following speeches from BOJ deputy governor candidates, Mr. Iwata and Mr. Nakaso, during their confirmation hearing in the parliament yesterday, Nomura analyst Yujiro Goto summarizes Mr. Iwata main points of disccusion, noting that "he said the BOJ should buy JGBs with a maturity of more than five years and should increase net bond purchases, also saying the Fed buys bonds worth 1.5 times more than banknotes, suggesting the BOJ's banknote rule does not make sense."

Nomura's Mr. Goto adds: "Mr. Nakaso also said the BOJ will probably continue large-scale bond purchases, which reconfirm that the main policy tool under the new BOJ is likely to be the acceleration of JGB investment with longer term maturities..."

Forex: AUD/JPY pushing against 6-day highs ahead of Aus GDP

With Australian GDP as main risk event for the Asia-Pacific session ahead at 00:30 GMT, AUD/JPY is trading last at 95.71, near 6-day highs, mostly on the back of Aussie strength following yesterday's RBA on hold and positive Aus retail sales and current account deficit. “For now I see resistance in AUD/JPY near 96.00,” says FXWW founder Sean Lee. In the equities field, US DowJones Industrials printed fresh record all time highs at 14286.
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Keep an eye on the oil market after Chavez's death

Following the breaking news of Venezuela's president Hugo Chavez, which has no direct impact on the currency market, traders should probably keep an eye on the Oil market. Venezuelan Vice President Mr. Maduro is expected to win the elections and become his successor.
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