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Forex Flash: Sterling posed for further weakness – Rabobank

The pound continues to trade in the region of 1.5470/75 on Monday, level last seen in July 2012, thus extending its decline further from year highs above the 1.63 figure. The descent has accelerated after last week’s dovish speech by M.King, which signalled that UK inflation levels would be above target for the next couple of years and a weaker pound is necessary for rebalancing the economy.

After the last CFCT COT report, Jane Foley – Chief Currency Strategist at Rabobank – commented, “Sterling positions have plunged into negative territory. This confirms the poor sentiment surrounding the pound, which has been clearly evidence in the spot market. Positions are at their weakness since June 2012”.

Forex Flash: RBNZ rate hike expected within 12 months time – BNZ

Across the swap curve, now, NZ yields have convincingly broken out of their eight-month ranges. A string of stronger-than-expected domestic data releases saw NZ swap yields rise 13-20bps last week – Friday’s strong retail sales data was sufficient to boost NZ swap yields a further 2-5bps.
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Forex: EUR/USD calm and flat ahead as European morning ends

The EUR/USD remains under a quite reserved trading today, despite that 40-pip spike to 1.3379 high during the European morning. While trading lower before the European session, mostly supported around 1.3330, the pair is now mostly moving around the weekly opening price.
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