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Forex: USD/JPY upside momentum to remain - UBS

FXstreet.com (Barcelona) - 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.

“Meanwhile,” the Team expands, “Kuroda’s strong emphasis on JGB purchases – in greater size and longer maturities – is already achieving the desired effect,” they note, adding: “The bar is higher for ‘surprises’, but we expect upside momentum to remain for USDJPY and stick to our year-end forecast of 100,” the analysts conclude.

Forex Flash: ECB on hold for now - TDS

“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.”
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Forex Flash: Seasonal patterns tend to favor JPY in Mar/Apr/May period – TDS

“Beyond the debate regarding whether seasonal trends exist or not, there are limits to seasonal trend analysis,” say Toronto based FX Research Team at TD Securities. “Varying the period under scrutiny can produce significantly different results,” the Team adds, “and the limited data set means that the data can provide some guidelines at best rather than hard or fast rules.”
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