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Forex: AUD/USD turns bearish as stocks decline in Asia

FXstreet.com (Córdoba) - The AUD/USD was trading above 1.0450 at the highest level since Wednesday's European session but turned to the downside falling more than 30 pips in a few minutes. Currently trades at 1.0423/27, approaching yesterday's lows that lie at 1.0417; if it breaks lower it would be at the lowest level in a week.

Stocks in Asia are falling sharply on concerns over the European crisis. Also Chinese bank stocks are under pressure following regulation changes on wealth management. The Nikkei 225 is down 1,14%; the Shanghai Composite falls 2.12% and the Hang Seng in Hong Kong loses 1.07%. The decline in stocks weakened commodity currencies.

The EUR/AUD jumped to the upside rising from 1.2220 to 1.2256 printing a fresh daily high while the AUD/JPY declined to 98.08.

Forex: USD/JPY dips to 94.10 lows post-Kuroda

USD/JPY has been accelerating loses as of late, last at fresh session lows 94.12, down from NY session highs at 94.53, at the time new BoJ chief Kuroda is speaking before parliament. The recently elected BoJ governor is not giving much of new details ahead of upcoming April 04 BoJ meeting, which is not helping Yen sellers to pursue further loses but instead take some quick profits. Fin Min Aso is currently speaking, saying 2% inflation target in 2 years is not an easy task, ForexLive reports.
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Forex Flash: AUD/USD should stay supported around 1.04 – NAB/BNZ

According to National Australia Bank and Bank of New Zealand currency strategists: “The AUD continues to display complete immunity from European travails,” the analysts say, expanding: “A still positive growth story, 3% yield and distance from the epicentre of angst all serving to keep the currency supported, suggesting minimal near term harm under either risk ‘on’ or ‘off’ scenarios.”
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