FX Update: April 17, 2013

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April 17, 2013 GBP/USD EUR/USD EUR/JPY USD/JPY AUD/USD USD/CAD
Resistance (High) 1.5374 1.3201 129.76 98.44 1.0396 1.0295
Support (Low) 1.5215 1.3023 126.72 97.26 1.0277 1.0206
Forex News

Yen Remains Lower Amid Bets Japan Will Escape G-20 Criticism

April 17, 2013 (Bloomberg) -- The yen remained lower following a two-day decline amid bets Japan will escape censure for weakening its currency at a Group of 20 meeting starting today.

Demand for the yen was also limited before Japanese government data today that may show the world's third-largest economy ran a trade deficit for a ninth month. The Dollar Index jumped yesterday as global stocks fell, boosting the allure of the greenback as a haven.

"The yen still remains in a weakening trend," said Kazuo Shirai, a trader at Union Bank NA in Los Angeles. "The G-20 won't probably tell Japan to refrain from devaluing the currency, but is more likely to leave exchange rates to the...keep reading.

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