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Forex Flash: Sell EM growth and buy liquidity currencies - Societe Generale

FXstreet.com (Barcelona) - Sebastien Galy, Senior FX Strategist at Societe Generale has recommended that investors sell EM growth currencies and buy liquidity currencies.

He notes that while he as turned cautiously bullish on EM currencies after the strong risk on signal sent by the BoJ, it is important to stress that significant differentiation is likely to play out in the EM FX universe. He writes, “In particular, we are bullish on liquidity currencies, but bearish on growth currencies. The best illustration of this relative value view is perhaps the long TRY/RUB position that we just initiated this week.”

Forex Flash: Sighs of relief from Italy dashed - BTMU

Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that there was a sense of relief yesterday on the news that the divided Italian political landscape had come together with the centre-left and centre-right reaching a deal to elect a new president.
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Forex: GBP/JPY explodes to 152.20/25

The GBP/JPY exploded today as fresh concerns over the yen have sparked an all out siege on the currency. In recent minutes the cross peaked at the 152.56 level (intraday maximum), before being checked by resistance. In these moments, the pair has eased back slightly to settle at 152.20/25, up a steadfast +1.49%.
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