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Forex: USD/CAD in highs ahead of BoC

FXstreet.com (Barcelona) - The Canadian dollar is losing ground against its neighbour on Wednesday, ahead of the BoC interest rate decision due later.

“The overnight rate will remain at 1.00% and the statement will continue to reflect a very mild tightening bias, it is widely expected. The risk for the CAD comes in the messaging on the outlook, however, with the BoC likely to moderate further its message on the economy considering the weak growth trend evident in the domestic economy so far this year”, commented S.Osborne and G.Moore, Strategists at TD Securities.

At the moment, the cross is advancing 0.51% at 1.0260 facing the next hurdle at 1.0265 (high Mar.22) followed by 1.0285 (high Mar.19).
On the downside, a break below 1.0181 (MA21d) would bring 1.0171 (MA10d).

Forex: EUR/JPY finds support at 128.10

The euro weakened broadly, dropping over 150 pips against the yen, after former ECB board member Bini Smaghi said the bank must find way to avoid euro gains.
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Forex Flash: Confidence of USD/JPY hitting 100.00 slowly fades – Investec

After all the talk last week of USD/JPY hitting the magical 100.00 level, we saw a retracement yesterday with the pair moving back briefly down to the 95.50 level earlier this week. According to the Investec Research Team, “Confidence of hitting the 100.00 level is slowly fading, and with an air of stability flowing back into the pair, last week’s high of 99.94 could well provide strong resistance.”
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