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Forex Flash: Australia on of losers from BoJ action - BTMU

FXstreet.com (Barcelona) - Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that Australia has been one of the losers from Japan’s efforts to devalue the yen with the trade-weighted Australian dollar rising to a new post float record high as investors intensify the search for yield.

He writes, “It is leading to a tightening in overall monetary conditions in Australia while the economy still remains weak. This was evident overnight in the Australian employment report for March which revealed that the unemployment rate jumped by 0.2 point to 5.6% reaching a new cyclical high. The rising Australian dollar and weakening labour market will likely pressure the RBA to resume monetary easing soon.”

Forex: GBP/USD testing resistance at 1.5389/93

The GBP/USD surged higher Thursday, en route to fresh session highs at the 1.5389/93 level during European trading. Having already ruptured resistance, the cross is now recording a steadfast advance of +0.38% above its opening.
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Forex Flash: Kuroda comments most likely seen as Yen bearish - OCBC Bank

Emmanuel Ng of OCBC Bank note that markets are likely to continue to interpret the latest remarks from BoJ Kuroda as continually bearish for the Yen.
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