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Forex Flash: Cyclical currencies pull higher against USD - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the cyclical currencies (NZD, AUD, and CAD) pulled higher against the dollar (and across G10 space) on Wednesday as risk appetite continued to improve across asset markets.

He adds that meanwhile, with the latest FOMC minutes revealing several members contemplating a slowing in the asset purchase program before an exit by the end of the year egged the USD/JPY closer to the 100.00 level while the yen also continued to flail on the crosses. He writes, “Note that this revelation also helped to cap the EUR/USD and the GBP/USD.”

Forex: AUD/USD bouncing off lows

Poor data from the Chines economic activity during the first quarter plus below-expectations industrial production figures in March have dragged the Aussie dollar to lows around 1.0420 overnight, picking...
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Forex Flash: Did Kuroda-led BoJ stimulate hedge reduction? – UBS

Some market participants have expressed surprise that Japanese investors were net sellers of foreign assets in early April. The latest official data confirms this. So, are expectations of accelerated Japanese outflows very wide of the mark, despite BoJ easing on April 4th? According to Research Analyst Gareth Berry at UBS, “It’s far too soon to reach such a conclusion in our view for a few reasons: The latest weekly data only cover only up to Friday April 5th. That’s just a day after the BoJ announced a major expansion of its easing program, and not enough time for most real money investors to react.”
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