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Forex News (Podcast and Text): US Dollar Gains Ahead of CPI and FOMC Minutes, Asian and European Stocks Tumble - How Will Wall S

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Fundamental Headlines
•    USDJPY – The minutes from the Bank of Japan’s monetary policy meeting in January showed that members thought they shouldn't be too influenced by an economic slowdown and increase in energy and food costs, and instead, the bank “should make forward-looking projections of economic and price trends.” The news suggests that no policy changes are likely in the near-term, especially since the members said that Japan’s economy is “likely to continue expanding moderately.” For more news and resources, visit the new Japanese Yen Currency Room.
•    GBPUSD – The minutes from the Bank of England’s Monetary Policy Committee meeting in February revealed an 8-1 vote to cut rates by 25bp to 5.25 percent. However, the dissent deviated a bit from the norm as über-dove David Blanchflower voted in favor of a 50bp cut to 5.00 percent. Blanchflower cited concerns that UK data was similar to prior US data, suggesting that embarking on an aggressive rate cut cycle may be necessary to avert a US-style credit crunch and possible recession. However, other MPC members noted a risk that faster inflation may only stoke expectations. Will the BOE cut again in March? Discuss the topic and your trade ideas in the GBP/USD Forum.

•    KKR Seeks to Restructure Debt, Reviving Credit-Crunch Worries (link) – Wall Street Journal
•    Mr. Macklowe's $3 Billion Life Raft? (link) – Wall Street Journal
•    BOE’s MPC Voted 8-1 For Quarter-Point Cut (link) – Financial Times
•    Bank of England's Barker Says Her `Chief Concern' Is Growth (link) – Bloomberg
•    Alliance & Leicester Plummets After Slashing Targets (link) – Bloomberg
•    German January Producer-Price Inflation Accelerates (link) – Bloomberg

  Podcast by Terri Belkas, Currency Analyst, Forex Capital Markets LLC, DailyFX.com

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