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Forex: GBP/USD keeps bearish around 1.5650

The sterling is prolonging its congestion pattern in the region of 1.5650 on Wednesday, ahead of the Halifax House Prices in the UK due later. Estimates are calling a contraction of 0.2% on a monthly basis vs. a raise of 1.5% over the last twelve months.

Bearishness surrounding the pound has intensified in the past sessions, ahead of the BoE MPC meeting due tomorrow. It is worth noting that the broad consensus expects a more dovish tone and no changes in both the repo rate and the asset purchase programme, although M.Carney’s speech before the TSC would be on the limelight.

As of writing, the pair is losing 0.10% at 1.5642 facing the next support at 1.5608 (Lower Bollinger).
On the flip side, a surpass of 1.5879 (high Feb.1) would aim for 1.5889 (MA200d).

Japan's Nikkei soars to 4-year highs on BoJ Shirakawa's resignation, Asia mostly higher

Asian markets closed mostly higher on Wednesday, although two of the major equity indexes – China's Shanghai Composite (-0.09%) and South Korea's Kospi (-0.10%) edged lower. Japan's Nikkei Stock Average stole the show, with a +3.77% move to 11,463, marking its biggest one-day gain since the post-quake volatile trade in March 2011 and reaching its October-2008 high. Key for the move was BoJ Governor Shirakawa's early resignation. “The big sell off in the yen has pushed the Nikkei up by 4% today despite renewed tensions with China over a maritime incident surrounding the disputed Senkaku/Diaoyu islands”, wrote TD Securities analysts.
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Forex: USD/JPY at strong resistance, capped at 94.06

Asian markets reacted the most to BoJ Governor Shirakawa's early resignation from office, antecipating the official procedure in a matter of few weeks, which triggered a new Yen selloff. The USD/JPY has been under such renewed momentum since yesterday's European session, but it was during the Asian shift that the market reached the 94.00 mark, coming to as high as 94.06.
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