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Forex Flash: EUR/USD likely to run out of steam near 1.3150 - Commerzbank

FXstreet.com (Córdoba) - The large amount of economic data from the euro zone, UK and the US will re-fuel speculation about the further course of monetary policy in the main industrialized nations, says Carolin Hecht, analyst at Commerzbank.

"The euro and sterling in particular could come under pressure", the analyst comments. "The Japanese yen on the other hand is likely to appreciate slightly if the Bank of Japan comes across as more moderate again following the bombshell of early April".

Regarding the euro, Hecht notes that the PMIs for the euro zone might end the current sideways trend in EUR/USD as economic developments would determine the course of central banks' policies. "While there is much scope to the downside in EUR-USD towards 1.28/1.29, the pair is likely to run out of steam on the upside in the area of 1.3150".

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