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Policy Comments Push Yen Higher

Recent comments made in Japan by one of the Prime Minister’s economic advisors have pushed the Japanese Yen to a 2-year peak versus the common currency Euro as FX traders consider the likelihood that the Yen’s value has deteriorated beyond the Japanese government’s intentions.

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Prime News: British pound mixed on woes ahead of May general election

The British pound dropped a third of a cent versus the euro, but recovered versus the US dollar Tuesday, in a trade led by economic data.

Sterling gained 0.7%, reflecting certain political concerns prior to next month’s general election.

Against the euro and the greenback, the pound ended at 72.25 British pence and $1.4774, respectively.

Today’s move is down to the dollar’s shift, “almost in its entirety,” said Michael Sneyd, Strategist at BNP Paribas.

Earlier, the currency fell half a cent against the dollar following UK headline inflation was at zero for the second straight month, while the Office for National Statistics reported consumer prices climbed 0.2% between February and March.

The material has been provided by InstaForex Company – www.instaforex.com

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Prime News: Canadian dollar leaps prior to BOC rate decision

The Canadian dollar surged more than a cent versus the US dollar Tuesday, as markets set themselves before the Bank of Canada’s interest rate resolution, and as its counterpart declined after lower than expected increase in US retail sales.

US figures showed retail sales surged 0.9% last month, the biggest gain in a year.

We failed to get that 1%, so we noticed numerous speculative positions “bail out of their long US dollar positions,” said Scott Smith, Senior Market Analyst at Cambridge Mercantile Group.

The loonie closed at C$1.2490 per greenback or 80.06 US cents, from Monday’s C$1.2592 or 79.42 US cents.

Higher oil prices bolstered the loonie, too. US crude prices climbed 3.20% to $53.57 a barrel, while Brent crude rose 1.74% to $58.94 a barrel.

The material has been provided by InstaForex Company – www.instaforex.com

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US Stock Indexes Finished Mixed, Volume Light

US Stock Indexes Finished Mixed, Volume Light $JPM, $JNJ, $INTC, $LLTC, $NSC DJIA +1.2% YTD, NAS 100 +5.1% YTD, S&P 500 +1.8% YTD, Russell 2000 +5.0% YTD DJIA +59.66 at 18036.70, NAS 100 -10.96 at 4977.29, S&P 500 +3.40 at 2095.83 Volume: trade came in light at about 675-M/shares changing hands on the NYSE. The US major stock market averages ended […]

The post US Stock Indexes Finished Mixed, Volume Light appeared first on Live Trading News.

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