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15 Apr 2013
Forex Flash: Cyclical currencies pull higher against USD - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the cyclical currencies (NZD, AUD, and CAD) pulled higher against the dollar (and across G10 space) on Wednesday as risk appetite continued to improve across asset markets.
He adds that meanwhile, with the latest FOMC minutes revealing several members contemplating a slowing in the asset purchase program before an exit by the end of the year egged the USD/JPY closer to the 100.00 level while the yen also continued to flail on the crosses. He writes, “Note that this revelation also helped to cap the EUR/USD and the GBP/USD.”
He adds that meanwhile, with the latest FOMC minutes revealing several members contemplating a slowing in the asset purchase program before an exit by the end of the year egged the USD/JPY closer to the 100.00 level while the yen also continued to flail on the crosses. He writes, “Note that this revelation also helped to cap the EUR/USD and the GBP/USD.”