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Forex Flash: More USD/JPY rally if new BoJ Governor antecipates bond purchases - Commerzbank

Having decided to step down from office three weeks earlier than original expected, BoJ Governor Masaaki Shirakawa triggered more weakness of the Yen. “The fact that even this news managed to put pressure on JPY suggests how cautious the market is”, wrote analyst Lutz Karpowitz, adding that “speculation about his successor is likely to now take off”.

“There is no doubt that Prime Minister Shinzo Abe will appoint an ultra-dove to enforce his views on monetary policy. Even though the central bank has not been sovereign for some time the appointments are likely to create further pressure for JPY”, continued the Commerzbank analyst, expecting further USD/JPY rally if the new BoJ governor starts the unlimited purchase of bonds before 2014, the current scheduled date.

Forex Flash: US markets rebound yesterday on upbeat data and Dell – Deutsche Bank

Yesterday, better-than-expected services sector data across both North America and Europe and Dell's announcement that it had agreed to be taken private fuelled a +1.4% rally in Tech stocks yesterday which lifted the S&P500 +1.04% higher on the day to almost recover from the previous day's losses.
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Forex: EUR/USD keeps the lows around 1.3530/35

The bloc currency is now extending the consolidation centred on 1.3520/25 on Wednesday, as risk aversion is prevailing among investors....
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