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Forex Flash: USD/JPY conservative target at 110 by year end – RBS

With it's biggest single day rally in USD/JPY pair since year 2008, last at fresh 3.5-year highs 97.10, “I anticipate that JPY will continue to weaken against all currencies on a trend basis,” says Greg Gibbs, FX Trading Strategist at RBS, who is “now thinking 110 by year end is a conservative target,” the analyst suggests.

“The clear message is that the JGB market is not for you,” Greg notes, adding: “it is for the BoJ, you should shift your savings to other asset classes. You should seek inflation hedges, you should seek higher yielding assets abroad,” he concludes.

Forex: EUR/JPY biggest single day rally on record above 125.30

EUR/JPY is last a 125.25, fresh 3-week highs, a +4.85% higher from yesterday's Asia-Pacific open, mostly on the back of Yen weakness, though also helped on some Euro strength, following both central bank meetings yesterday from BoJ and ECB. The single day advance in the cross must be probably the biggest on record.
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Forex: EUR/USD below 1.2930 takes a pause ahead of key US NFP

With latest Reuters poll on EUR/USD recently released showing the most bearish call for end of month sitting at 1.24 round, coming from one of the 2 only analysts who got their previous calls closer to the final outcome, IDEAglobal, EUR/USD is last near session lows at 1.2924, slightly lower from session highs at 1.2937. The pair is not moving much in the Asian trade so far ahead of key US NFP data later on at 12:30 GMT, while local share markets all show loses with the exception of Nikkei, that jumps more than +3.7%.
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