- The BOJ Governor Shirakawa made the comments on a visit to the US
- Japanese exports improve as easing Yen helps the cause
- IMF Lagarde: Funding pledges now at $316 billion
- BOK Kim: Steady economic growth to continue
- EUR/USD: Talk of large exotic options expiring tomorrow
- Brazil’s central bank cuts rates to 9.00% from 9.75%
- New Zealand’s CPI rose by 0.5% in March quarter
- Nikkei falls by 0.6% after opening 1% lower, other regional Bourses pretty flat on average
- Gold $1642/oz, Oil $102.75/bbl
Another very quiet Asian trading session with only some very modest Yen weakening to report. The comments from the BOJ chief ahead of next week’s meeting were taken as pro-easing measures and USD/JPY eased slowly higher towards the overnight highs. The going has been slow with corporate sell orders killing bullish momentum. There was unconfirmed talk this morning of ACB interest to buy EUR/JPY, low on the 106 handle. Ranges: 81.17/57, EUR/JPY 106.51/98
AUD/USD has traded in a 40 pip range amid light flows and neutral sentiment, range 1.0344/86
EUR/USD has also been quiet, with many awaiting the Spanish debt auction results before committing to trading strategies. EUR/GBP has consolidated after a bearish technical break overnight and the EUR is also struggling against other European currencies like the SEK. Nevertheless, the big Sovereign interest either side is still reputed to be in place. Range: 1.3108/31.
Cable traded 1.6011/34, EUR/CHF 1.2013/23