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Forex: GBP/USD flat around 1.5100, UK Budget, BoE eyed

FXstreet.com (Barcelona) - Big day for the sterling ahead as the BoE will release its minutes from the last meeting, with market participants focusing on the voting pattern in light of last week’s comments by Governor M.King.

When the minutes have passed, the next tough hurdle for GBP would be the UK Budget. Investor would closely follow the statement by Chancellor G.Osbourne, as he could announce changes in the BoE remit.

GBP/USD is now up 0.01% with the next resistance at 1.5160 (high Mar.18) ahead of 1.5177 (high Mar.15) and then 1.5200 (high Mar.5).
On the flip side, a breach of 1.5072 (low Mar.18) would open the door to 1.5011 (MA10d) and finally 1.4965 (low Mar.17).

Asian markets mixed on Wednesday, Japan closed for holiday

Hong Kong’s Hang Seng (+0.83%) and Mainland China’s Shanghai Composite (+2.61%) have recovered losses made since the weekend trigger, the bailout to Cyprus, but South Korea’s Kospi (-0.97%) and India’s Bombay Sensitive (-0.47%) fell on Wednesday. Japan was closed for Vernal Equinox Day.
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Forex: USD/JPY rises to 95.30 area

The USD/JPY first fell below the 95.00 handle to score a low at 94.83. Then, recovery fully retraced losses and has been sending the pair higher as the European opening gets closer. The market trades at 95.31 high.
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