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Forex - EUR/GBP, GBP/USD Flows: GBP slightly firmer after employment report


 08:51 (GMT) 19 Oct

  [Forex Flows]

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EUR/GBP, GBP/USD Flows: GBP slightly firmer after employment report (0100-HGQM-C01)

Nothing to scare the horses in the UK employment report and GBP/USD is trading little changed just above 1.23. Sterling has had a slightly better feel to it this week, with USD bulls taking a little money off the table and USD longs were most extended against GBP. However I wouldn't expect Cable to roar away and we are probably in for some fairly low key range trading, with something for everyone and the picking of levels crucial. IJ.


Forex - USD/JPY, EUR/JPY Flows: Japan FinMin Aso says need to raise wages to get economy out of deflation


 02:52 (GMT) 19 Oct

 [Forex Flows]

Japan FinMin Aso on the wires earlier - says need to raise wages to get economy out of deflation. Still think global economy is recovering gradually. Brexit could weigh on global economy in mid, long term, China slowdown and uncertainty in emerging economy are risks, and GBPUSD has dropped abruptly, and will be watched closely.

For the first time (ever?), FinMin Aso voiced concern about an abruptly falling currency that is not JPY, possibly to appear fair when it comes to "sudden FX movements". However, JPY has been anything but volatile in recent days, and the range of 103.66 - 94 on the day is not all that different from the range printed at the same time yesterday. Once again, strong demand is seen in dips towards 103.50, and the order book actually looks to be clearer on the upside, till 104.50 at least.


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