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Forex Flash: GBP crosses thrown for loop after upbeat GDP – Investec

FXstreet.com (Barcelona) - Today’s news headlines have been dominated by the Q1 GDP figures in the UK. Although the manufacturing and construction sectors have declined in the first quarter the key to any growth will be the extent to which the service sector has expanded.

Official data shows the sector expanded by 0.3% over the quarter, whiles February’s Services PMI showed a reading of 52.1 offering hope that the UK avoided recession albeit by a slim margin. According to the Investec Research Team, “The foreign exchange markets have lacked direction prior to the release and the fact the outcome of today’s announcement was such a close call only adds to the volatility that is apparent surrounding upbeat results.”

Forex: EUR/JPY drawing third Doji in a row

The EUR/JPY retested its daily highs once again, peaking at 129.87 just before the US claims data, and then the cross started a new declining movement back to its lower band of the daily range, finding some support at 129.20.
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Forex Flash: Foreign bond investment to be the main alternative investment for lifers - Nomura

Nomura Strategist Yujiro Goto notes that foreign bond investment to be the main alternative investment for lifers.
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