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Forex: EUR/USD dips to lows around 1.2975/80

FXstreet.com (Barcelona) - The single currency is trading on the back foot on Monday, as events in Portugal over the weekend eroded part of last week’s post-ECB/Payrolls rally. It is worth noting that the Portuguese constitutional court voted against parts of a new austerity package promoted by the government.

Ahead in the day, the Sentix Investor Confidence index is due (-13.1 exp.) followed by German Industrial Production.

At the moment, the cross is losing 0.08% at 1.2981 and a breach of 1.2893 (MA200d) would then target 1.2849 (MA10d) en route to 1.2747 (low Apr.4).
On the flip side, resistance levels line up at 1.3050 (high Mar.25) then 1.3107 (high Mar.15) and finally 1.3110 (38.2% of Feb.-Apr. slide).

Session Recap: Quiet Asian session after USD/JPY jumps the gun at the start

Another Asian session with the Yen at center stage, gapping at the open, thus making USD/JPY to hit a fresh almost 4-year high at 98.85, on the back of reported bigger bond purchases than expected from BoJ starting as early as this week. Nikkei index rose a +2.40% for the session, capped below Friday's record 4.5-year highs at the 13.2k mark.
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Forex: GBP/USD eases to 1.5315/20

The sterling is intensifying its intraday downside from highs in the vicinity of 1.5350 to the current area of 1.5315/20, as sentiment is undermined by the developments in Cyprus...
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