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Forex Flash: ECB to buy asset-backed securities for support? – Deutsche Bank

FXstreet.com (Barcelona) - The ECB's Asmussen noted yesterday that the central bank has discussed buying asset-backed securities (ABS) to support lending to SME firms. He said that policy makers have an open mind to look at all things within their mandate but warned that while the ECB is looking at all possible options to rekindle the ABS market policy makers are far from reaching any conclusion.

In terms of today, the final BoE meeting under the governorship of Mervyn King will be the main event in the UK. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “The market is not expecting any changes to rates and its QE program in part due to the recent better-than-expected UK data-flow.”

Forex: USD/JPY trading near intraday lows at 98.71/73

The USD/JPY has lost its grip on the 99.00 level Thursday, turning lower during European trading after several failed attempts at recovery. Ahead of events such as the BoE interest rate decision this morning at 11:00 GMT, the cross is now edging back lower again, approaching its intraday lows of 98.65. In these moments, the pair is operating at slightly above this region, perilously close at 98.71/73.
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Forex Flash: BoE decision on QE – analysts unanimous that vote is likely to remain a close one -TD Securities

TD Securities analysts feel that the BoE is focusing its attention on targeting credit channels directly, with the recent extension of FLS.
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