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Forex Flash: Room for confusion and surprise at BoJ April 4 meeting - RBS

FXstreet.com (Barcelona) - There is room for confusion and surprise on the BoJ April 4 monetary policy meeting, "either up or down for JPY" says Greg Gibbs, FX strategist at RBS.

Greg adds: "Broadly speaking, over the next few months we see Kuroda delivering more than expected on the QE front, and thus still want to buy USD/JPY dips. Recent price action is soft, so we prefer to bide our time until we sense the market has cooled its focus on the 4 April meeting and is no longer so sure Kuroda has the skills to manage inflation expectations yet higher."

Forex: EUR/JPY, key demand 121.00/122.00 under threat

The EUR/JPY has failed to attract trader's interest 2 hours into the Tokyo session, with the pair consolidating along the 122.50 after the strong rejection off 124.50 supply, which also implied closing the weekend down-gap.
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Forex: EUR/USD on hold above 1.2900 waiting for Cyprus vote

EUR/USD is last at 1.2911, off early session lows at 1.2889, slightly retracing from session highs at 1.2915, while local share markets trade in a mixed way, with Nikkei leading the loses down -1.58%. “The local market is again in consolidation mode,” says Peter Fell at FXBriefs.com, adding: “large option expiry’s are said to be at 1.2900, given there is no event risk until Europe opens, I cannot see the EUR/USD moving to far from the 1.2900 handle.”
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