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Forex Flash: EUR/USD & GBP/USD open to further downside - OCBC Bank

Emmanuel Ng of OCBC Bank notes that looking ahead today, both EUR/USD and GBP/USD are open to further tests of the downside.

Starting with EUR/USD, he notes that any attempt for spot to take the 1.3400 region may pave the way towards the 55-day MA (1.3277). In addition, he feels that the latest reiterations from the ECB’s Draghi regarding the EUR’s influence on inflation may also stall EUR bulls in the near term.

Shifting to GBP/USD, Ng comments that the pair attempted to grind lower yesterday, under the shadow of recent dovish BoE rhetoric and less than encouraging economic releases. He is expecting the tone for the GBP to remain vulnerable ahead of the BoE MPC minutes tomorrow, and overall, he feels that the pair may continue to eye 1.5450 intraday, with initial support expected at 1.5400.

Forex: NZD/USD pares losses after Chinese milk quarantine roils kiwi

The NZD/USD experience a rapid 30-pip plunge during the overnight session, following a report that a Chinese quarantine led to the destruction of NZ milk powder. After bottoming out in the 0.8404 region earlier, the pair has rebounded nicely and recovered the mark of 0.8452/54 in these moments in a return to opening levels.
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Forex Flash: Yen rebounds modestly as foreign bond buying plan denied - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the Yen has strengthen modestly in the Asian trading session following comments from japanese Finance Minister Aso overnight who stated that “we don't intend to buy foreign bonds”.
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