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27 Mar 2013
Forex Flash: Prospect of further JGB buying keeps JPY under pressure - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of oCBC Bank notes that coupled with better looking risk appetite levels, the prospect of further government bond-buying may implicitly keep the JPY under pressure.
Further, he adds that due to the BOJ meeting next week, we may also see investors keeping their powder dry in the interim. he notes that a continued failure to overcome 95.00 risks a relapse back below 94.00 towards 93.12. Shifting to AUD/USD, Ng comments that the pair continues to cautiously test its upper boundaries in the current environment although some hesitation may be expected in the neighborhood of 1.0490/00 in the near term. He expect AUD to also garner support if the crosses (i.e., EUR/AUD) continue to favor the growth-linked currencies against the EUR. This morning, he notes that little discernible was seen from the RBA’s Financial Stability Report.
Further, he adds that due to the BOJ meeting next week, we may also see investors keeping their powder dry in the interim. he notes that a continued failure to overcome 95.00 risks a relapse back below 94.00 towards 93.12. Shifting to AUD/USD, Ng comments that the pair continues to cautiously test its upper boundaries in the current environment although some hesitation may be expected in the neighborhood of 1.0490/00 in the near term. He expect AUD to also garner support if the crosses (i.e., EUR/AUD) continue to favor the growth-linked currencies against the EUR. This morning, he notes that little discernible was seen from the RBA’s Financial Stability Report.