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Forex Flash: USD/JPY potentially tempted to 100 by option barriers - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank believes that cited option barriers at 100.00 may continue to temper the upside momentum for USD/JPY in the near term.

Nevertheless, he adds that buying interest on dips is expected to emerge with the Finance Minister continuing to sprinkle the markets with dovish yen remarks, stating that the yen was undergoing a correction from “excessive” rises. As noted previously, he adds that a further consolidation towards the 98.30 neighborhood cannot be ruled out as the markets pause for a sanity check. Moving to AUD/USD, he comments that overnight, the RBA’s Kent did not express undue discomfort with the AUD’s strength, noting that the economy is coping. He writes, “The pair blipped briefly above 1.0500 in overnight dealings although the pair may pause slightly following the deteriorating April consumer confidence numbers this morning. In the short term, the pair may be expected to trade with a supported tone within a 1.0390-1.0530 band.”

Forex Flash: Carry en-corre(lation) - Nomura

Nomura strategists Saeed Amen and Geoffrey Kendrick have taken a look recently at the impact of the BoJ´s new monetary policy on markets, noting among other things, the likely positive impact on risk appetite, noting among other things, the likely positive impact on risk appetite and citing the likely re-allocation effect of capital from Japan to higher yielding assets.
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Forex Flash: BoJ easing may be lifting demand for European debt - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that the unprecedented BoJ easing announced last week is expected to help support asset prices generally with the ADB report citing potential asset bubbles and the Thai Authorities citing evidence of capital inflows into the Thai Bond Market seeking yield.
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