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Forex Flash: BoJ to ease aggressively next April 04 meeting – UBS

FXstreet.com (Barcelona) - “At the April 3-4 meeting we expect the central bank will aggressively ease monetary policy and help USDJPY push into a higher 95-100 range,” says Mansoor Mohi-uddin Head of Foreign Exchange Strategy at UBS Macro Research.

“We think Kuroda will push now for the central bank to start raising its quantitative easing sharply,” adds Mansoor, adding: “The new governor has consistently said policymakers should meet market expectations. He's also repeated his view that the BoJ must hits its new 2% inflation target within the next two years. Last, the government will be keen for the Nikkei to keep rising before the upper house Diet elections in July,” the analyst concludes.

Forex: USD/JPY stalls below 94.40 on soft Tankan

USD/JPY is last at 94.28 off recent session highs at 94.38, in the back of soft Japan Tankan data in pretty much all surveys, while Nikkei index opens below the 12400 points mark, down -0.15% for the day. The pair is still slightly higher for the session, coming from previous weekly close Friday at 94.19.
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Forex: EUR/JPY heaviness stays; watch 121.60/85 supply

EUR/JPY remains stagnant through a holiday twin-light Asian session, with the pair ranging between 120.60 and 120.80. From a short term perspective, the market seems to still like the idea of selling into supply areas through lower timeframes, as seen since mid February following a second rejection off 125.00 weekly supply-sensitive zone.
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