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Forex Flash: USD/JPY, expect little pullback in the high 101s - RBS

FXstreet.com (Barcelona) - The break up in USD/JPY through both 100.00 psychological level and a range of historical levels in the 101s strengthens the case for greater gains in the pair, says Greg Gibbs, currency strategist at RBS.

Greg adds: "We expect relatively little pull-back from current levels in the high 101s, and a continuation of the rising trend. The pace of the upswing may not be as rapid as earlier in the year, but we expect it to be persistent."

Forex: EUR/JPY holding gains above 132.00

EUR/JPY just printed a fresh 3-year high in early Asia-Pacific at 132.40 on the back of continued Yen weakness following G7 meetings through the weekend. The cross trades last at 132.18, slightly below Friday's highs.
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Commodities Brief: Gold selling off sharply below $1430

The hard commodity markets have started the week in Asia-Pacific selling off on the back of soft US equity futures and local share markets, but the Nikkei index, that posts fresh 5-year highs above the 14800 points, along with a strong USD. Gold has printed a fresh session lows near the $1425 mark from a previous weekly close Friday above the $1445, stalling around the 38.2% Fibo retrace of latest daily up leg from $1320 to $1490.
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