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Forex Flash: JPY, beyond the knee-jerk - HSBC

FXstreet.com (Barcelona) - HSBC analysts believe that BoJ activism means that any JPY recovery will be later and smaller.

They begin by commenting that they have raised their annual forecast for USD/JPY to 88 from 80 previously. They write, “We were surprised by the extent of policy easing announced by the BoJ, and further upside in USD/JPY is likely for now. However, it is still uncertain that regime change at the BoJ will translate into actual economic change and success. With much already in the price, if policy fails to spur the economy, some of the move seen in USD/JPY will reverse.”

Forex Flash: Euro rally more to do with JPY plays than Draghi speech - BBH

Brown Brothers Harriman analysts believe that the Euros rally after touching new yearly lows seemed to be largely a product of plays against the Yen, rather than something particularly inspiring from Draghi.
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Forex Flash: Ulysee, between Charybe to Scylla - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale notes that this morning, he debated with a manager that while one may be a USD bull, the reality is that we are headed currently for a period of weaker data, leading to some USD underperformance.
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