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Forex Flash: G20 fails to make splash – Deutsche Bank

FXstreet.com (Barcelona) - The G20/IMF/World Bank meeting wrapped up over the weekend, with the G20 simply reiterating its pledge to avoid competitive devaluation and saying that the BoJ's monetary policy is "intended to stop inflation and support domestic demand".

Shortly after the meeting the BoJ's Kuroda told reporters that "Winning international understanding gives me more confidence to conduct monetary policy appropriately. We will continue our qualitative and quantitative easing for the next two years".

Elsewhere in Asia, the death toll from H7N9 avian influenza has also climbed to 20 (out of 102 confirmed infections) in China. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “WHO experts suspected human transmission 'in very rare cases' but this is clearly still an open issue for markets to keep a close eye on.”

Forex Flash: USD/CAD bullish with scope toward 1.0341 – TD Securities

The push through 1.0270 by the USD/CAD should enable a retest of the low 1.03 area, according to TD Securities analysts: “The USD/CAD is breaking out of the consolidation pattern that trapped the market in a tight range through the latter part of last week (above 1.0250/55) with a little more intent. Initial gains were capped in the 1.0270 area but the push higher seen so far today should see USD/CAD make minor new highs (above 1.0291) at least near-term”, wrote analysts Shaun Osborne and Greg Moore, seeing scope for a push beyond the recent 1.0341 peak. “We spot short-term support now at 1.0270 intraday, stronger at 1.0250. Hourly trend momentum is USD-bullish, aligning with the USD-positive signals on the other short-, medium– and long-term trend momentum oscillator signals”, they added.
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Forex Flash: LDP and New Komeito coalition likely to gain Upper House majority - Nomura

Nomura strategist Yujiro Goto notes that based on past election results, the LDP and New Komeito coalition is likely to gain majority in the upper house at the forthcoming election in July if the coalition gains more than 40% of the votes.
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