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[QUOTE="limyeeshin, post: 105688, member: 35099"] [B][U][SIZE=6][COLOR=#0000ff]Thursday 14 July 2016[/COLOR][/SIZE][/U][/B] [B][U][COLOR="Red"]Sterling holds higher ahead of BoE policy meeting[/COLOR][/U][/B] The British pound pushed higher ahead of the Bank of England’s monetary policy meeting on Thursday. The currency limited its gains as the meeting is expected to carry an easing policy to diminish the economic fallout from Brexit vote. Earlier, sterling held lower against the dollar with increased possibility of quantitative easing. The BoE is expected to cut its benchmark interest rate to 0.25% from 0.5% at this meeting. FX strategy managing director Kathy Lien said even if the central bank passes on a move Thursday, they will prepare everyone for easing this year. GBP/USD pair added 0.5% to 1.3212, climb off its session low of 1.3105. [B][U][COLOR="Red"]Dollar recovers from its sharp loss[/COLOR][/U][/B] The U.S. dollar reduced its losses, keeping near three-month highs after the release of a Federal Reserve Beige Book. Earlier, the greenback fell after the import prices came in at -4.8% and a dovish statement from Dallas state Fed president Robert Kaplan. The Beige Book’s survey showed evidence of modest economic growth in most regions except Dallas, Chicago and Boston, where claimed the U.K. referendum affected on business activities. The dollar hit a day low of 96.09 and rebounded to 96.36, down 0.19%. [B][U][COLOR="Red"]Yen reduces gains with focuses on BoJ meeting[/COLOR][/U][/B] Japanese yen slightly reduced its gains amid investors focusing on whether the Bank of Japan will add its monetary stimulus at its meeting this month. The former U.S. Federal Reserve chair Ben Bernanke told Japanese Prime Minister Shinzo Abe that the central bank has still got measures to support the economy on his visit to Tokyo. Tokyo FPG Securities president Koji Fukaya said whenever the dollar reaches 105 level, people will be selling in to this. He added that the Bank of Japan will do anything at its meeting at the end of the month that the BoJ could increase its asset purchases. USD/JPY gained 0.2% at 104.65 yen, close to its post-Brexit high of 104.98. EUR/JPY also rose 0.3% at 116.20 yen. [B][U][COLOR="Red"]Emerging goes generally lower, Aussie gains after jobs data[/COLOR][/U][/B] The emerging currencies broadly fell against the dollar as safe-haven demand slightly reduces with blunted stock prices and oil price drops. The Australian dollar ticked up after the jobs report on Thursday despite the data was weaker than expectations. The RBA said that the latest data may comfort the bank but its next monetary policy decision is likely to depend more on the inflation and growth forecast for the economy. AUD/USD ticked up 0.22% to 0.7625. [B][U][COLOR="Red"]Major pairs (Thursday update)[/COLOR][/U][/B] USD/JPY ↑0.46% 104.98 EUR/USD ↑0.23% 1.1115 EUR/JPY ↑0.72% 106.72 USD/CAD ↓0.25% 1.2944 GBP/USD ↑0.57% 1.3221 USD/CHF ↓0.17% 0.9835 AUD/USD ↑0.11% 0.7616 NZD/USD ↓0.82% 0.7215 [/QUOTE]
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