Yen moves dominate

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US existing homes sales were slightly stronger than anticipated with a 1.0percent March growth, but the effect is very likely to be restricted. Yen moves will likely remain dominant with no US data because of Monday, particularly in the brief term. The amount of short yen positions found in the latest positioning data indies there is scope for a decrease in long dollar positions. The Japanese information will be watched carefully and is very likely to ascertain whether the yen can push the 105.0 degree.

Analysis provided by http://www.fxtoday.co.uk