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Forex Flash: MPC on hold, GDP ready to fall again - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the MPC yesterday refrained from further easing but there has been enough noise to know that additional measure are likely.

Further, he has also heard enough to know that a weaker pound is favoured by both the MPC and the Government. He writes, “No matter that the negatives (falling household incomes) will surely outweigh the positives (improved profit margins for exporters). This is the policy and it will take GBP/USD to 1.40 next.”

Forex Flash: EUR/USD looks bullish ahead - BTMU

Bank of Tokyo Mitsubishi UFJ analysts note that the Euro has declined steadily against the dollar from the intraday high of 1.3711 set of February 1st.
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Forex Flash: USD/JPY to stay neutral ahead - BTMU

Bank of Tokyo Mitsubishi UFJ analysts feel that USD/JPY looks neutral ahead and foresee spot moving within a range around 95-92.50.
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