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Forex Flash: USD/JPY may remain heavy ahead of BoJ - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that with risk appetite levels somewhat unsteady, USD/JPY may well remain heavy into the end of the two day BoJ meeting on Thursday.

Ng feels that much price movement is already priced in regarding potential additional monetary accommodation and despite BOJ Governor Kuroda continuing to spout the requisite dovish rhetoric. He writes, “Note that a violation of the 93.00 region risks a down move towards 91.70 multi-session.”

Italy Feb Unemployment declines to 11.6% vs 11.7% in Jan.

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Forex: EUR/JPY eases on contractionary German manufacturing

Demand for the EUR pushed the cross higher to 119.64 high, but quickly investors figured out that the final reading of the March manufacturing PMI by Markit wouldn’t be any good after seeing the Spanish figure, falling fell from 46.8 to 44.2 (consensus at 46.0). The EUR/JPY dropped to 119.25, but is currently trading at 119.50.
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