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Forex Flash: GBP remains a sell on rallies – Rabobank

The sterling is intensifying its bearishness on Thursday, as we get closer to the BoE MPC meeting, trading below the key resistance of 1.5000

In the opinion of Jane Foley, Chief Currency Strategist at Rabobank, the BoE would likely incur in further easing in the current year. Although she was formerly inclined to May as the most likely date, increased weakness in the UK fundamentals, a more dovish tone in the last BoE minutes and the government pressure would point to today’s meeting as a good chance to materialize her visions.

“However, sterling is likely not yet fully prepared for a new era of significantly looser monetary policy. Given that this is now a risk, we retain our preference to sell sterling into any rallies”, concludes Foley.

Forex Flash: Bank Indonesia cautious regarding GDP growth prospects – TD Securities

Bank Indonesia left the reference rate unchanged at 5.75%, as expected, and put more stress on inflation, saying that they will monitor the development of food prices, but also added some new cautious wording concerning the prospects for GDP growth.
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Forex: USD/CAD trading at support at 1.0309/10

The USD/CAD has managed to hold above the 1.0300 level Thursday, despite recording a brief session low of 1.0299 during European trading. Having recovered off of this region, the pair has gradually edged higher in recent moments, operating now at 1.0309/10. At this juncture, the pair is still trading at a loss on the day, down -0.10%.
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