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Forex Flash: In Korea, it appears as if FX intervention is picking up - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts suspect that the BOK is working with a soft target at around the JPY/KRW 11.20 level.

They feel that authorities may also be forced to step up their efforts further given better GDP data overnight, simmering down of the North Korean tensions, and the refusal of the BOK to cut rates as expected in the last meeting. They write. “Q1 GDP rose 0.9% q/q versus expectations for an increase of only 0.7%. Importantly, exports were up 3.2%, showing that so far the weaker yen has not been much of a problem. Price of money adjusts faster than real trade flows.”

Forex Flash: ECB rate cut speculation intensifying - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale notes Weak IFO out of Germany and weak durable goods orders out of the US further highlighted the current growth air pocket.
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Forex: USD/JPY erases intraday losses

The US dollar managed to creep higher versus the yen at the beginning of the New York session as most crosses reverse their European trade path as the greenback strengthened across the board amid some profit taking.
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