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Forex Flash: The Kiwi continues to bright - BNZ

FXstreet.com (Barcelona) - In view of Mike Jones, currency analyst at Bank of New Zealand, "the ever-brighter glow of the kiwi’s relative growth and interest rate appeal has been largely responsible for the currency’s recent gains."

"Not only are investors worried about a slowing pace of growth in the US and Europe (see Majors), but Wednesday’s morning’s RBNZ statement reinforced to the market the relatively upbeat NZ outlook" he adds.

Mike expands: "The Bank’s comment that growth “has picked up”, alongside it’s ”projection for inflation to gradually rise” has further dimmed the chances of RBNZ rate cuts. This can be seen most clearly in the further gains in NZ-AU 3-year swap differentials, which are now back to almost flat. NZD/AUD is fast closing in on our 0.8300 ‘take profit’ recommendation..."

Forex: USD/JPY: edges lower after CPI data, BoJ rate decision up next

The USD/JPY is edging slightly lower during Asia trade, down 15 pips at 99.17. The Bank of Japan released its most recent CPI figures earlier in the session, with the print coming in at -0.9%. Before the release, the pair was trading around 99.34 but quickly dropped to 99.13 where is attempting to consolidate. Market participants will be focused on the Bank of Japan rate decision due out a bit later at 2:00 GMT
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Forex Flash: We stay skewed towards a lower EUR - Societe Generale

Global markets are in a sweet spot says Sebastien Galy, senior currency strategist at Societe Generale, who argues that hopes of "easy money and pro-growth policies are failing to depress equities..."
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