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Forex Flash: Berlusconi may be back from the dead. . . again – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the most eye catching headline today is the news that Berlusconi´s PDL party is closing in on leaders, the DPL.

He writes, “There is enough uncertainty around Spanish and Italian politics to ensure that the next leg higher for the Euro is delayed, but unless we see EUR/USD close below yesterday’s low (1.3460), we will not be re-thinking any targets – EUR/USD looks set to test 1.38 this month.”

Forex Flash: Euro advance sparked by disparity of Fed/ECB balance sheets – BBH

Brown Brothers Harriman analysts note that EUR/USd has really sprung into life as the market have fixated on the shrinking ECB balance sheet at the same time that the Fed´s is growing.
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Forex Flash: USD/JPY touches 94 encouraging strong Nikkei gains – BBH

Brown Brothers Harriman analysts note that news that BOJ Governor Shirakawa will step down a few weeks early, in line with the end of his deputies’ terms, is seen as bringing forward the timing of more aggressive monetary policy.
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