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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

USDCAD TECHS

Clearing Major Support

AUDUSD TECHS

Sizeable Resistance Building

EURJPY TECHS

Needle Still Points North

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  • As expected, the NBH decided to leave its benchmark rate and the overnight deposit rate steady at 0.6% and -0.05%, respectively, to stimulate the economic recovery after a difficult first quarter.
  • Policymakers have mentioned several times that the spike in inflation (with CPI inflation expected to rise to 5% in April/May) is only going to be temporary and inflationary pressures should ease in the second half of this year.
  • USDHUF is up slightly from the low of its 5D range (299.80) following the decision, trading back above the 300 level.