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Forex Flash: Markets looking for clues on Brazil´s tightening cycle - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that Brazil´s COPOM minutes are due out Thursday and markets will be looking for clues on the timing and magnitude of the tightening cycle.

They feel that it will also be interesting to see if the dovishness implied by the statement and the dissent is confirmed by the minutes. After initial BRL weakness on Thursday after the Wednesday decision to hike rates by 25 bp, the currency was able to regain some ground against the dollar to end the week near 2.01. They write, “We think the real could return to below 2.00 in the coming weeks if markets settle down, and we believe that the 1.95-2.05 trading range remains intact.”

Forex Flash: China PMI reinforces growth concerns supporting yen - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ note that the Yen has strengthened overnight with USD/JPY again failing to break the key resistance at 100.00.
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Forex Flash: What can we expect of the EUR/USD? – UBS and Commerzbank

The single currency is falling to weekly lows below the psychological support at 1.3000 on Tuesday, after the flash German manufacturing PMI came in below expectations at 47.9 for the month of April vs. 49 forecasted....
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