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The sterling gained more than 150 pips since today’s lows in the boundaries of 1.5040, piercing for a few moments the key resistance of 1.5200 pushed by increasing buying interest after the BoE statem

FXstreet.com (Barcelona) - The sterling gained more than 150 pips since today’s lows in the boundaries of 1.5040, piercing for a few moments the key resistance of 1.5200 pushed by increasing buying interest after the BoE statement.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued, “Further consolidation remains on the cards. While capped by the 1.5269 June 2012 low, we will maintain an immediate bearish bias”. The expert added that a close below 1.5101 (20-day moving average) would trigger further downside to the 1.500 area en route to 1.4832.

Forex Flash: RBA creates vulnerability for AUD crosses – Westpac

Gold is testing 11-month lows. Copper has fallen about -12% since Jan to 8 month lows. Coal prices remain depressed. Forecasters are increasingly confident that iron ore prices are heading substantially lower in the months ahead, albeit at least in part due to the large increase in supply. Yet the AUD/USD is lingering near 1.0500 once again. Investors could be forgiven for wondering if commodity prices matter at all to AUD at the moment. A check of the correlations of daily log returns between AUD/USD and the Westpac Commodity Futures Index (finds the correlation remains positive but not high, 0.25 on the 30 day rolling window.
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Forex Flash: Analyzing Japanese liquidity – UBS

Leaving central banks out of the picture, we find that liquidity preference in JPY by other categories may be more nuanced. For example, compares central bank JPY deposits in the UK versus that of non-resident banks and others (households or corporates). Similar to central bank trends, there was a sharp rise in JPY-denominated liquidity in 2008 and 2009, but there wasn't a corresponding rise in 2011 or 2012.
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