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Forex Flash: Abenomics well known and discounted in FX market - BBH

FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman holds a contrarian view of Yen, mainly because he feels that Abeonomics is well known and well discounted in the foreign exchange market.

He writes, “We think this means that the bulk of the yen's weakness is found in the rear view mirror. The uptrend in the dollar against the yen, drawn off the mid-Nov lows, when the election was announced and the early Dec lows and late Feb lows comes in on Monday just below JPY94.00 and is rising about 11 pips a day. Looking at the technical indicators, the RSI for is difficult to read, but there is a dollar bearish divergence in the MACDs.”

Forex Flash: Dollar weakens slightly despite Cypriot meleé - OCBC Bank

Emmanuel Ng of OCBC Bank note that the dollar weakened across the board on Friday with the EUR/USD testing above 1.3000 briefly despite background concerns surrounding Cyprus and amid hopes that a resolution would be found over the weekend.
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Forex: EUR/USD rises again above 1.3000

The EUR/USD moved to the upside early in the day with news of an agreement between Cyprus, the Troika and EU finance ministers. Peaked at 1.3048 high, the pair retraced its gains and moved to 1.2985 ahead of the European opening. The market is now back above 1.3000 area and attempts at restoring its gains.
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