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      USD/JPY: Downside risks – Danske Bank

      Piet P. H. Christiansen, senior analyst at Danske Bank, points out that the USD/JPY pair crossed 108 into 107 territory as Mr. Powell is leaning against the poor cyclical backdrop.

      Key Quotes

      “We extrapolate: data is likely to continue showing that a cyclical slowdown is still with us but we expect to meet it by adjusting US yields and the dollar, appropriately. This is exactly what global macro needs to avoid a more gloomy path. Our 3M forecast is 107 but there's clearly downside risk to(wards) 105.”

      UK: BoE and retail sales in focus – TDS

      Analysts at TD Securities point out that the Bank of England meets to set policy and will be a key event for today’s markets. Key Quotes “On paper, th
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      ECB's de Guindos: Euro-zone inflation is to deteriorate in the coming months

      The European Central Bank's (ECB) vice president Luis de Guindos crossed the wires in the last hour, saying that indicators point to very moderate glo
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