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Forex Flash: ECB on hold for now - TDS

FXstreet.com (Barcelona) - “The risk of rate cuts continues but we still seem not to see it this week,” say London based FX Research Team, adding: “But PMIs continue to disappoint and we see the risk of a rate cut as soon as May if the data does not quickly turn as the ECB‘s forecasts are looking too optimistic.”

“This creates a risk that they drop a hint in this regard at this meeting, but it will be a busy Q&A with questions on data, Cyprus, and Slovenia,” the analysts conclude.

Forex: USD/JPY slides to 93.96 session lows on disappointing domestic data

USD/JPY is currently trading still above the 94.00 handle at session lows around the 94.12, following disappointing economic data coming out of Japan, showing deflation strongly persisting at a -0.7% pace for the month of February on the overall nationwide count, the lowest since mid 2010. For the core Tokyo on a yearly basis number showed a -0.5% decline in prices, slightly above expectations at -0.6%, but still in the negative sin early 2009.
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Forex: USD/JPY upside momentum to remain - UBS

While USD/JPY is struggling to hold up above the 94.00 handle, following disappointing domestic data in Japan, next Thurs 04 BoJ meeting is one of most anticipated events ahead, and “BoJ Governor Kuroda will be aiming to impress with more easing,” says FX Strategy Team at UBS.
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