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Forex Flash: USD/SGD biased towards longer term base above 1.20 - ANZ

FXstreet.com (Barcelona) - Long-term profiles for USD/SGD are biased towards a longer term base forming over recent years above the psychological level of 1.20, says Tim Riddell, Head of Global Markets Research at ANZ.

Tim adds: "The pullback from above 1.2500 held relatively well and so a break back above 1.2450 could trigger a more pronounced rebound towards the 1.2625-50 area and so increase the potential that a broader basing structure may be developing. A slip back below 1.2335 might postpone rebounds, but a break below 1.2290 is needed to undermine this more USD positive profile."

Forex: GBP/USD continues to consolidate ahead BOE Rate Decision

The Sterling finished the day up 41 pips at 1.5541. It will be upcoming session out of London, with Industrial Production and Manufacturing Production due out at 8:30GMT. However, volatility may really start to pick up when the BOE Interest Rate decision is released a bit later at 11:00GMT.
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Forex: EUR/USD notches a solid day of gains as ‘risk on’ mentality continues?

In a day where risk assets were primarily well bid across the board, the Euro was able to notch some decent gains, finishing up 81 pips at 1.3159. The initial catalyst which seemed to help push the pair higher was the German Industrial Production (MoM) release which came in at 1.2% actual vs. -0.1% forecast.
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