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Forex: USD/JPY rises further to 94.70

FXstreet.com (Córdoba) - The USD/JPY recovered on Tuesday and trimmed Monday's losses. At the beginning of Wednesday's Asian session rose further and reached at 94.70 a two day high. At the moment trades at 94.55/57, unchanged from today's opening price and 10 pips above the price it had at the beginning of the week.

Market attention is turning toward the next meeting of the Bank of Japan that will take place next week. “The market is in a holding phase ahead of the BOJ meeting early next month but the lack of any miracle actions seems to be gradually wearing down the appetite of Yen shorts”, says Sean Lee, analyst at FXWW.

The Yen is holding a bearish bias across the board so far on Wednesday, extending the decline while the US Dollar remains mostly unchanged.

Forex Flash: NZD/JPY to reach 82.50 by year-end - BNZ

The NZD/JPY continued on Tuesday its move toward multi-year highs that lie at 79.74 (Mar 12 high). Currency Strategist at BNZ Mike Jones expects the Kiwi to keep trending slowly higher during 2013 on the back of a recovering global demand that would bolster commodity prices and as Japanese authorities engage bold easing.
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Forex: AUD/USD sleeping around 1.0480

In a very slow Asian market start, with Nikkei index is down -0.21% below the 12500 points mark, after a slightly positive open, AUD/USD is last at 1.0482, off session lows at 1.0470. Australian ASX index trades in the positive, higher for the session by +0.3%, following the RBA Financial Stability review just released. “Banks better placed after changes to funding mix Australian bank activity in Asia is likely to expand Global financial conditions improved significantly,” commented ForexLive editor Eamonn Sheridan on the review.

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