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Euro Expects To Appreciate

Euro traded higher by 1.3 percent in the last week on account of weakness seen in the US Dollar Index after the disappointing release of economic data from the nation. Moreover, the EU’s statistical agency said that the number of people unemployed in the euro-zone fell by 105,000 to 16.65 million.
However, sharp gains were restricted after the disappointing release of inflation data from the Euro-zone which came well below the European Central Bank’s target of just below 2 percent for several years. Moreover, the rising “Brexit” risks are still keeping the investors cautious with respect to making any risky investments.
This has left the Euro currency in a pressurized state. The currency made a weekly high of 1.1042 and closed at 1.1012 on Friday. Euro is expected to trade higher as a significant shift in negative sentiment last week prompted the traders to place new bets which will keep the shared currency supportive.
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Sterling Pound Likely To Trade Sideways

Sterling Pound inclined by 2.5 percent against the dollar in the last week as a significant shift in negative sentiment last week prompted the traders to place new bets. Moreover, Net Lending to Individuals inclined to 5.3B for the month of January’16 which acted as a positive factor.
However, sharp gains were restricted after the release of economic data from the nation that showed that the service sector took a hit on account of rising Brexit fears along with sluggish global economy and faltering financial markets.
Moreover, annual house price growth remained unchanged. The currency made a weekly high of 1.4247 and closed at 1.4263 on Friday. Sterling Pound is expected to trade sideways to positive as markets will remain cautious ahead of BOE Gov Carney Speech that is to be held in the later part of the day.
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Japanese Yen May Trade Sideways

The Japanese Yen depreciated by 0.7 percent in the last week in spite of weaker service PMI data from around the globe that left the markets pressurized. However, there was no panic selling unlike previous year which acted as a negative factor for the safe-haven Yen.
Markets discounted the statement released by Bank of TokyoMitsubishi UFJ, Sumitomo Mitsui Banking and Mizuho Bank who revised up their 2016 forecasts owing to yen appreciation.
The currency made an intraday low of 114.55 and closed at 113.43 on Friday Japanese Yen is expected to trade sideways to positive as negative sentiment seen in the Asian markets will boost the demand for the safe-haven Yen.
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