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GBPUSD moving closer to test 1.32. USDJPY aiming for 104

Discussion in 'Fundamental Analysis' started by AllFXBrokers, Jul 12, 2016.

  1. AllFXBrokers

    AllFXBrokers Member Trader

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    Political developments in Japan and the UK saw the respective currencies react in the positive. While the GBP managed to close bullish on news that Theresa May is likely to be the new PM, the Japan elections have boosted hopes for fiscal stimulus and potentially more BoJ easing later this month. The pullback in the risk aversion has kept gold price action subdued, but it is likely to stay range bound within 1350 - 1370 in the near term.

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