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Forex Flash: USD/JPY tracking the US Japanese 10yr Interest Rate spread - BBH

FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that USD/JPY has been tracking the US-Japanese 10-year interest rate differential.

He sees that the spread widened from about 85bps in the middle of November, when the Japanese election was called, to 140 bps by the middle of March. He writes, “That corresponded roughly to the dollar's peak against the yen (prior to this week) on March 12 near JPY96.70. The differential then narrowed as the dollar slipped against the yen, reaching a multi-week low this past Tuesday (April 2) near JPY92.60.”

Monetary easing in US revitalizes gold standard

Amidst the recent new era of monetary easing and central banking action, a palpable distrust of many regional entities, including the Federal Reserve, have reinvigorated the age-old concerns facing paper currencies – notably when weighed to gold.
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Forex Flash: Portugal in focus as yields mount and measures fall – Deutsche Bank

Portugal topped the weekend headlines after the country's constitutional court rejected a number of austerity measures in the 2013 budget late on Friday. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “The measures in question included a cut in state pensions and public sector wages, which apparently breach a constitutional requirement that the burden of fiscal policy be fairly distributed and not discriminate between state and private sector workers.”
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