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Forex Flash: AUD/CAD may reach 1.07, momentum to be short-lived - Westpac

AUD/CAD momentum could extend to near 1.07 although is likely to be short-lived, says Sean Callow, currency strategist at Westpac. The rise, as Sean explains, comes after "the Bank of Canada’s lack of urgency to tighten policy contrasted with a sharp reduction in market pricing for RBA easing to help produce one year highs above 1.06." However, Sean notes that "CAD short positioning extreme and RBA pricing more likely to move towards -25bp than zero should see AUD/CAD slip back to 1.0400 multi-week" the analyst adds.

Session Recap: Japan's Diet approves Boj new leadership; Yen unmoved

The Asian session of Friday failed to inspire traders, despite there had been growing expectations over possible Yen volatility on the outcome of the new BoJ governorship parliamentary voting.
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Euro buyers insist to defend $1.30; volatility to be on the rise

EUR/USD has managed to recover away from year lows at 1.2910, and is currently just below yesterday's highs at 1.3033 following the USD sell-off that came in after upbeat US unemployment data and PPI just in line with expectations at +0.7%, higher for fourth consecutive month, which adds to speculation of an early exit to QE.
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