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Forex Flash: UK - Devaluation Delta - Nomura

FXstreet.com (Barcelona) - Nomura economist Philip Rush notes that external trade´s response to sterling's devaluation has disappointed consensus forecasts.

However, he feels that belief that rebalance is only delayed still supports optimistic growth forecasts. He writes, “Our framework incorporates variable trade elasticities. We see a low response because it was a competitiveness shock that also depressed the equilibrium exchange rate.”

Forex Flash: BOJ aggression surpasses high market expectations - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that there certainly cannot be any sense of disappointment with the BOJ monetary policy decision which was clearly aggressive and will immediately dispel concerns over the potential for the BOJ to remain cautious.
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Forex: USD/JPY eyes 95.70 post-Kuroda announcements

Governor H.Kuroda finally delivered, and yen-bears continue to celebrate! The increased weakness surrounding the Japanese yen is pushing the cross to fresh 2-week highs in the boundaries of 95.70, after...
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