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Forex Flash: Short-squeeze pushes GBP higher - UBS

Wednesday and Thursday the pound underwent a larger correction, notes the UBS analyst team. "Investors were squeezed out of GBP-short positions leading to remarkable gains for the pound".

"There was no reasonable trigger from the macro-economic or political side for that move. Key market focus remains the presentation of the budget on March 20, where the UK treasury is expected to discuss a potential change of the inflation target", UBS says. "We expect no significant change and stay therefore with our call for a stronger pound".

Forex: EUR/USD hovering over 1.3000/10

The bloc currency is retreating from intraday highs in the vicinity of 1.3030 to the boundaries of the key limestone of 1.3000 on Thursday, as the risk rally post-jobs data seems to be taking a breather...
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Forex Flash: USD/JPY remains a buy on dips – Commerzbank

The cross has managed to leave behind the key mark of 96.00 on Thursday and trade back around 96.10/15, as the US dollar is picking up pace again...
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