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Forex Flash: FX majors offer mixed biases – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.

Beginning the USD/JPY the intraday indicators suggest a bullish trend, as there is scope for a test of resistance at psychological 100.00; a break above would open 101.45, while support is at 95.80. As for the GBP/USD, “We look for a neutral intraday bias with critical resistance at 1.5424. Only a closing break above this would indicate further upside to 1.5606 – support is at 1.5268 ahead of 1.5178.” Finally, regarding the USD/CHF, the analysts maintain a bearish perspective as there is risk for extension of weakness, with support at 0.9185 ahead of 0.9150.

Forex Flash: Doomsday scenario breaking out in Korean peninsula unlikely – ANZ

Geopolitical tensions in the Korean Peninsula have been a major reason why the Korean won has been the worst performing Asian ex-Japan currency year-to-date. Threats from the North keep coming, almost on a daily basis, but its effect is starting to wear thin on the market.
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Forex Flash: Chinese local debt catches eye of ratings agencies – Deutsche Bank

The FT recently reported that a senior Chinese auditor and vice-chairman of China's accounting association have described the local government debt situation in the country as out of control. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “These comments comes after the recent warnings from Fitch and Moody's about the risks of China's local government debt.”
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