Everything has gone into slumber mode after the Australian PPI and the HSBC flash PMI and it will stay that way until Europe opens. The French election vote will have much more of an impact with European traders I’m sure and the flows are bound to be more significant that we have seen today.
The market’s conviction that the BOJ would ease policy further this week is getting weaker but even though the bullish sentiment towards USD/JPY seems to be easing, I’m still in the buy-big-dip camp. Perhaps it might be a case of sell-rumour-buy-fact as opposed to the other way around?