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Forex Flash: CAD net longs reduced - Nomura

The Loonie has had the largest change in investors positioning, notes Nomura FX strategists, "following the indication by the BoC that a rate hike is ‘less imminent than previously thought’ and the weaker than expected CPI."

Nomura adds: "Long EUR positions increased again last week, reaching the highest level since July 2011. Our real-time estimate shows that investor have continued to add to their net long position since Tuesday."

"At the same time, investors pared back net long positions in AUD, GBP and CHF, signifying reduced demand for these safe-haven currencies. JPY saw a re-accumulation of shorts position, with net short position remaining at extreme levels" Nomura said.

Forex: AUD/JPY stalls ahead of fresh 4-year highs below 97.00

AUD/JPY is currently at 96.66 off recent session and fresh 4-year highs at 96.81, 7 pips higher than previous Friday's highs, and about flat for the session, recovering from session lows at 96.38. The cross has gained so far for the new year 2013 more than +7% while +16% since mid Nov last year.
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Forex Flash: USD relatively weak for next 2 years - HSBC

“Over the next two years we see the dollar remaining relatively weak, as the US continues to struggle with its fiscal deficit,” the HSBC Global Currency Strategy Research Team says, adding: “We see the euro remaining relatively strong, as the sovereign debt problems are gradually addressed. Upward pressures on many EM currencies may intensify, but official resistance to appreciation will be strong.”
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