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Forex Flash: Biggest Toshin purchases since mid 2011 - Nomura

FXstreet.com (Barcelona) - Nomura strategist Yujiro Goto notes that Japanese investors are estimated to have purchased JPY169bn (USD1.8bn) of foreign currency-denominated toshins last week according to NRI.

He adds that this is the first net buying in four weeks, and this is the biggest weekly net purchases since June 2011. Further, he notes that as there is a seasonality that toshin momentum rises during the final week of each month, it is too early to conclude the momentum has picked up. Nonetheless, the pick-up suggests momentum is likely to recover gradually in FY2013. At the same time however, Goto comments that at the same time, toshin investment in domestic assets accelerated even more aggressively last week, suggesting preference for domestic assets remains strong amid expectations of bolder economic policy responses and smaller carriers of foreign assets.

Forex: USD/CAD down on US session

With the upside limited by resistance at 1.0150 area, the USD/CAD is down on the day, and after an upside attempt on the release of US ADP data being capped again by the same resistance, the cross returned to its lows at 1.0135 zone, where it stands as of writing and pushes lower.
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Forex Flash: Expect market disappointment at BoJ meeting - BBH

Brown Brothers Harriman analysts note that the two-day BOJ meeting also ends Thursday, and they continue to see scope for market disappointment that leads to a yen rebound.
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