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Forex Flash: UK triple-dip less likely - UBS

FXstreet.com (Córdoba) - Tuesday's publication of the February industrial and manufacturing output data "has reduced the chances of a negative Q1 GDP print and thereby reduced the likelihood of a triple-dip recession in the UK", says the UBS analyst team.

"If the UK economy should be able to avoid a triple-dip recession, this should bring comfort to some of the more dovish Bank of England members and should reduce the likelihood of further easing", UBS says. "We keep our preference for GBP".

Forex: USD/JPY falls to 99.00 level

The Dollar is currently trading lower against the Yen and after retreating from session highs at 99.35, the USD/JPY has fallen around 40 pips in the latest few minutes to trade below the 99.00 level and test the 98.90. Currently the pair is trading at 99.00.
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