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Consolidation was the buzz word during the....>

FOREX: Consolidation was the buzz word during the Asia-Pacific session, the
dollar was broadly unchanged against its peers from yesterday's close in New
York. Dollar-yen dropped initially from Y113.20 to Y112.97 before meeting
demand. The dollar then posted a fresh high of Y113.28 shortly after the BoJ
policy announcement. Although remaining firmly on hold, the BoJ did lower
slightly their inflation forecasts, core CPI for 2017/18 is now expected at 0.8%
from 1.1% in July, 2018/19 now 1.4% from 1.5% projected in July. Dollar-yen was
last Y113.16, not too far from this morning's open. Euro-dollar consolidated
towards the highs seen yesterday and held a $1.1633 to $1.1653 range.
Aussie-dollar initially traded firmer to $0.7699, but turned lower to $0.7673 on
weaker local data and softer-than-expected China PMI. Kiwi-dollar dropped from
$0.6882 to $0.6838, macro names were said to selling kiwi crosses following weak
NZ business confidence and building approval data. Meanwhile, Cable held a
$1.3193 to $1.3215 range, held hostage to $1.3200 option expiries for today.
French Q3 GDP and European inflation data provide the event risks for the
session ahead. 

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