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Forex: USD/CHF jumps to 0.9500 line after ECB’s Couere

FXstreet.com (Barcelona) - After yesterday’s move, gaining around 100 pips before stalling at the 0.9500 door, the USD/CHF is in the mood of some more upside. Ahead of the European opening, the pair moved around 25 pips to reach the 0.9500 mark.

ECB’s Couere said he doesn’t agree with Dijsselbloem and the Cyprus bailout is not a new model for Europe, adding that there’s no reason to think French banks have the same problem as Cyprus. Also, he indicated that the troubles in Cyprus only show the need for ECB to be independent supervisor of banks in Europe.

The French consumer confidence report for March points to a drop from 86 to 84, below the 85 consensus.

“Tuesday’s 0.9491 high is being probed which puts the 0.9513 November high back on the map and indicates that the recent corrective move lower has run its course”, wrote Commerzbank analyst Karen Jones, adding that 0.9513 will need to be exceeded for the 0.9595/.9609 January 2012 high and the 61.8% retracement of the move down from the 2012 peak to be back in focus.

Forex: USD/JPY moves to lower band of daily range 94.11/45

The USD/JPY dropped to as low as 93.54 for Fed’s Bernanke speech yesterday, then bouncing back to 94.00 ground. Sidelined between 94.11 and 94.45, the pair is currently moving to the lower band of the range.
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Forex: EUR/USD eases to 1.2840/45

The bloc currency is now giving away initial gains in the area of 1.2840, printing fresh session lows at the same time, after the French Consumer Confidence slipped to 84 for the month of March, missing estimates at 85...
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