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7 Feb 2013
Forex: USD/JPY erases gains around ECB publications
As the ECB were to reveal its decision on the interest rates for February, the USD/JPY quickly erased its gains, rolling down to the opening price (91.64) surrounding area. The pair has gone as high as 93.92 during the European morning.
ECB's main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively. President Mario Draghi's conference is attracting much attention as the EUR exchange rate is being questioned by figures such as French President Hollande. Draghi should also talk about liquidity and LTRO repayments. The press conference is scheduled at 13:30 GMT.
“The USD/JPY currency pair continues moving upwards. I think today the price may consolidate for a while at the current levels and then continue growing up towards the target at 94.65”, wrote Roboforex.com analyst Igor Sayadov.
ECB's main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%, 1.50% and 0.00% respectively. President Mario Draghi's conference is attracting much attention as the EUR exchange rate is being questioned by figures such as French President Hollande. Draghi should also talk about liquidity and LTRO repayments. The press conference is scheduled at 13:30 GMT.
“The USD/JPY currency pair continues moving upwards. I think today the price may consolidate for a while at the current levels and then continue growing up towards the target at 94.65”, wrote Roboforex.com analyst Igor Sayadov.