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Forex: USD/JPY bounces back after profit taking on BoJ Kuroda

Profit taking pulled the USD/JPY to 95.69 low as Japan's lower house approved Kuroda as BoJ Governor. The two nominees for deputies will be confirmed tomorrow. The USD/JPY then bounced back to the 96.00 ground and is approaching yesterday's high of 96.25. Ahead is early week's highs of 96.69/72.

Japan's industrial production rose 0.3% in January, much less than the previous figure of 2.4%, with capacity utilization at 1.7% (from 2.9%). The annualized industrial production, however, improved from -7.9% to -5.9%.

Commerzbank analysts were expecting a small retracement to 95.63/25, ahead of further gains. “Longer term we target 99.70 (50% retracement of the 2007 to 2011 drop) and then 101.40/67 (the 2000 and 2005 lows)”, wrote analyst Karen Jones.

Asian markets mostly higher, Japan up ahead of BoJ nominees' confirmation

Japan's lower house approved Kuroda as next BoJ Governor and the Parliament will be confirming names of nominees for leading the BoJ tomorrow. Ahead of such event, the Nikkei Stock Average rose +1.16%. Mainland China's Shanghai Composite (+0.29%) and South Korea's Kospi (+0.12%) also moved higher on Thursday. On the other side was Indonesia's Jakarta Composite (-1.32%) and Hong Kong's Hang Seng (-0.35%).
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Forex: AUD/USD hovering over session highs

The Aussie dollar jolted from sub 1.0300 levels to the vicinity of 1.0370 overnight, after the jobless rate in Australia stayed put at 5.4% in February, beating expectations at 5.5%. The bigger surprise...
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