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Forex: EUR/NOK jumps above 7.5000 after Norges Bank

The Norwegian krone is markedly depreciating against the single currency after the Norges Bank left the refi rate unchanged at 1.5% and suggested that low rates would now remain longer than previously estimated: 1.5% throughout 2013 from 1.75% previous. The NB now projects the firs rate hike to be at some point during the first half of 2014

In its statement, the Nordic central bank assessed that both inflation and economic growth were navigating below desired levels. In the same line, income would be behind household debt and house prices so far.

At the moment, the cross is advancing 0.85% at 7.5038 with the next resistance at 7.5250 (2013 high Mar.1) ahead of 7.5254 (high Jul.9 2012) and then 7.5313 (high Jul.6).
On the flip side, a break below 7.4387 (low Mar.14) would open the door to 7.4275 (low Mar.13) and then 7.4250 (low Mar.8).

Forex: GBP/USD erasing gains during London session

The GBP/USD saw its price rising ahead of the London opening, reaching as high as 1.4957 before tumbling down and approaching its daily opening price. As of writing, the pair has moved to 1.4922.
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Forex: USD/JPY establishes session highs

The USD/JPY bolted higher Thursday, cruising to a session high of 96.54 in recent minutes during European trading. As risk appetite grows, the JPY becomes ever more dissatisfying, and the upside for the pair has been palpable recently. However, the cross has eased slightly in these moments, and while still steadfastly operating at +0.36% above its opening, the pair is installed at 96.44/43.
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