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Forex Flash: AUD/USD unable to be categorised as ‘risk-on’ or ‘risk’-off’ - NAB

After briefly breaking through 1.0250 in late NY session, the pair has rebounded over 20 pips off lows following strong buying interest emerging, only to trade vulnerable again at 1.0255. According to NAB strategist, the "renewed selling of AUD/EUR is part of the story here" which helps to explain the heaviness on the AUD/USD.

NAB adds: "Today, the AUD looks like continuing to trade quite heavily and unable to be neatly categorised as either a ‘risk-on’ or ‘risk’-off’ currency. The scaling up of expectations for a March rate cut yesterday (57%), aided by the weak housing approvals data, is currently one source of pressure on the currency."

Forex Flash: Heads up on market holidays - Wetpac

Markets reopen in Japan and S Korea but remain closed in Singapore, Hong Kong, mainland China, Malaysia and Taiwan, notes Sean Callow, FX strategist at Westpac.
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CORRECTION - EUR/JPY up over 2%, will lower highs be printed?

EUR/JPY carved out a bottom sub 123.50 early in the last European session to currently float 300+ pips higher at 126.50, with the last 2h spike - courtesy of Treasury's Mr. Brainard headlines - putting into question the failure of the uptrend.
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