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Forex Flash: GBP shorts keep piling up – Rabobank

FXstreet.com (Barcelona) - The sterling continues to derail on Tuesday, as increased selling interest is dragging the GBP/USD more than a big figure from overnight highs in the boundaries of 1.5260 to the current multi-day lows around 1.5115/20.

According to the last CFTC COT report, Jane Foley - Strategist at Rabobank - commented, “Sterling’s shorts continued to build even though the March 20 budget brought some relief insofar as the BoE’s mandate was not altered significantly and the consensus favours steady policy from the April BoE meeting”.

Forex: USD/JPY extends recover and trade above the 93.50 level

The US dollar is trading higher today against the Japanese yen with the USD/JPY rising around 100 pips from the bottom of 92.55 reached in the Asian session and breaking above the 93.40 resistance and trading at intra-day highs at 93.55
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Forex Flash: Investors seek tail-risk removal from Eurozone – UBS

On a structural level, the European asset selling couldn't have come at a worse time. “The 'risk-on' moves in the beginning of the year, where overseas investors returned to what they perceived as an undervalued but high-(dividend) yielding market was a major source of support for the currency.” Notes Research Analyst Gareth Berry at UBS.
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