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Forex Flash: Euro benefiting with reduction in risk, not with economic recovery - HSBC

The Euro has been strongest currency among majors since year started, followed by the Kiwi and Swiss Franc, but not because markets think the UE it's on its way to a “full-blown economic recovery,” but because of a reduction in risk, the HSBC Global Currency Strategy Research Team believe.

“Under this current period of normalisation,” the Team says, “the EUR is benefiting the most but not in the traditional way. The benefit is to do with a reduction in risk and not because the market believes the Eurozone is in the process of a full-blown economic recovery. It is important not to confuse the reduction in binary risk with a return to the traditional post crisis world,” the analysts conclude.

Forex: AUD/NZD prints fresh 29-month lows on poor Aus retail sales data

As AUD/USD keeps falling printing fresh 2013 lows, last at 1.0346, following weak retail sales figures in Australia, so does AUD/NZD cross, last at 1.2256, fresh 29-month lows, with NZ markets closed today over holiday. Australian retail sales for the month of December showed a decline of -0.2% on a monthly basis, coming from a previous of -0.1% and revised lower to -0.2%, making it fourth consecutive month with decreasing data.
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Forex Flash: USD/JPY has a final capitulation feel to it now - RBS

The run in USD/JPY so far “has a final capitulation feel to it now,” FX Trading Strategist at RBS Greg Gibbs thinks, while “It is difficult to see the risk reward in buying at these levels,” the analyst adds, “too late to chase it now.”
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