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Forex Flash: AUD/NZD, short looking for 1.23 - Westpac

FXstreet.com (Barcelona) - AUD/NZD was taken down to 1.2550 where it consolidates now, on the back of positive GDP figures in New Zealand, which has led to the future rates market pricing an RBNZ hike at 35% by year end now.

According to Westpac: "We are short the AUD/NZD cross from 1.2560 and will sell more on a move closer to 1.2600. Our stop on the topside is 1.2690, wile our downside target is 1.2300."

Forex Flash: US investors poised to launch USD on a multi-year rally - UBS

As Mansoor Mohi-uddin, Head of FX Strategy at UBS Macro Research notes, in a broad trade-weighted basis, the USD remains near its all-time lows, suggesting that "dollar bulls - looking for a multi-year greenback rally like those of 1978-1985 and 1995-2002 - anticipating the Federal Reserve will start scaling back its quantitative easing this year, appears the most likely trigger for a broader dollar recovery in 2013."
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Forex Flash: EUR/USD somewhat over-extended now - TDS

While above 1.2880, last at 1.2909 EUR/USD, and threatening to build a reversal pattern if above 1.2980, Chief FX Strategist at TD Securities Shaun Osborne believes the “EUR/USD has been pulled lower by the focus on Cyprus this week but relative central bank balance sheet positions suggests 1.35 is fairer value for EUR/USD currently,” he notes, adding: “We look for EUR/USD to rebound if a Cyprus deal is reached,” Shaun concludes.
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