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Forex Flash: BoJ easing not yet triggering Japanese outflows – UBS

FXstreet.com (Barcelona) - Japanese investors were net sellers of foreign bonds again last week, according to official 'hard data' released overnight. According to Research Analyst Gareth Berry at UBS, “The conclusion is inescapable – the BoJ's bold easing initiative announced on April 4th has not yet triggered a tide of Japanese outflows abroad – we are not surprised.”

Most Japanese real money investors are still designing their investment strategies for the new fiscal year. These annual deliberations are lengthy even in normal times. Now though, investors have an additional complication to consider – how should a new era of policy accommodation be incorporated into investment planning, especially given ongoing turbulence in the JGB market? So expect some delays this year.

Forex Flash: EUR/USD to resume down move towards 1.2740 - Commerzbank

The EUR/USD failed at the 1.3225/50% retracement once again. “Current indications remain that the market will remain capped here (Elliott wave count and TD perfection set-up) and we look for the resumption of the down move. Intraday the market has found some support at 1.3000/1.2995 and this guards the 200 day ma at 1.2922 en route to the 1.2740 recent low”, wrote Commerzbank analyst Karen Jones, pointing to key support at 1.2679/61 (61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low), while a deeper retracement to 1.3340 and possibly 1.3503 would happen once above 1.3225.
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Forex: NZD/USD retreats off highs to 0.8448/52

The NZD/USD movement higher stalled at the 0.8471 level (daily high) during the onset of European trading Thursday, leading to a shedding of gains in recent moments. Though the pair is still trading positively +0.08%, the cross has settled at 0.8448/52, clearly off its highs.
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