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Forex Flash: USD/JPY would target 100.00 longer-term – Commerzbank

FXstreet.com (Barcelona) - The Japanese yen keeps the area of 2013 highs around 97.00/15 on Friday, boosted by the aggressive programme of stimulus by the BoJ directed to spark inflation expectations in the domestic economy.

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “USD/JPY has seen a massive acceleration higher charting a new high for the year so far. Longer term we target 99.70 (50% retracement of the 2007 to 2011 drop) and then 101.27/67 (the 1999 and 2005 lows)”. The expert also commented that technical studies – Elliott wave count – would suggest a pullback to 95.50/94.90 prior to resuming the upside.

Forex Flash: 10-year US treasuries still in play due to US economy – RBS

We went neutral at last night's close the market for 10-year US treasuries got within a few basis points of our 1.72% target – according to the RBS Research Team, “daily momentum is deeply overbought (the dailies have really done well at sniffing out intra-range moves since last summer). Moreover, we are not bearish Treasuries because we still see evidence of a short base and because of lingering concerns about a probable step-down in Q2 growth/consumption and employment (versus Q1) due to sequestration, Europe and our belief that the >3% real consumer spending pace in Q1 is unsustainable given real income growth.
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S&P affirms the UK rating at AAA; Outlook is still negative

Standards & Poor's rating agency affirmed the United Kingdom sovereign debt at AAA according to a recent press release published by the agency. They expect the deficit decline to 4.2% of GDP in 2016.
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