FX Update: April 8, 2013

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April 8, 2013 GBP/USD EUR/USD EUR/JPY USD/JPY AUD/USD USD/CAD
Resistance (High) 1.5352 1.3039 129.25 99.39 1.0425 1.0215
Support (Low) 1.5237 1.2966 127.36 98.06 1.0347 1.0154
Forex News

Yen Weakens Beyond 99 per Dollar for First Time Since May 2009

April 8, 2013 (Bloomberg) --  The yen weakened beyond 99 per dollar for the first time since May 2009 on speculation Bank of Japan (8301) measures to fight deflation announced last week will further debase the currency.

The yen dropped against all its 16 major counterparts for a third day after BOJ officials said last week they will boost monthly bond purchases to 7.5 trillion yen ($80 billion), exceeding the 5.2 trillion yen forecast by economists surveyed by Bloomberg News. The dollar declined for a fourth day versus the euro before Federal Reserve Chairman Ben S. Bernanke speaks today. South Korea's won slid to an eight-month low as military tensions on the Korean peninsula escalated.

"As far as dollar against the yen, it looks like there really isn't any upside resistance until you get towards that ...keep reading.

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