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Forex Flash: USD/JPY upside momentum gone and waits for Japan fiscal and monetary policy - Commerzbank

FXstreet.com (Barcelona) - As the USD/JPY upside mometum is gone, Commerzbank analysts say that investors will have to wait and see what fiscal and monetary policy measures will be implemented by the new Japanese government: “That will be decisive in determining whether it was correct to price in JPY negative factors”, wrote analyst Ulrich Leuchtmann, seeing no scope to the downside in the USD/JPY either.

JPY shorts-supportive comments by Minister Akira Amani and BoJ board member Takehiro Sato had visible but limited impact. “Our advice for investors with a medium-term horizon remains: be patient, we might see further JPY weakness”, Leuchtmann concluded.

Forex Flash: Dollar Index could soften further – Wells Fargo

Nick Bennenbroek, Head of Currency Strategy at Wells Fargo feels that the U.S. dollar could soften further in the near-term given Fed easing and as improved market sentiment supports foreign currencies, before firming on volatility surrounding U.S. budget talks.
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Forex: EUR/SEK keeps the lows around 8.6000

A sharp appreciation of the Swedish krona followed after the manufacturing PMI in the Nordic economy climbed to 49.2 during January, bettering December’s 44.6 and dragging the cross from the area around...
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