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Forex Trading: Market Eyes BOJ Announcement

Posted by Akhilesh Ganti on May 21, 2013 11:08:00 PM

The Asian session saw the US dollar range bound -vs- the majors though there was an understandable sense of nervous anticipation to the trading activity. USD/JPY broke above 102.50 and made session high of 102.67 as it awaits the BOJ announcement. The market doesn't expect them to make any moves, but the accompanying statement will be closely scrutinized, especially for any comments from Kuroda about bond yields. AUD/USD fell back below 0.98 spurred by the disappointing consumer sentiment data which might put pressure on the RBA to cut rates again. Post BOJ, the collective focus of the market will be on Bernanke's testimony and the FOMC minutes due out a bit later in the US session. 

052213 

 

 

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