Mainland China and Hong Kong were both closed for a holiday today, Dragon Boat Festival. This sapped interest and some liquidity from Asian markets.
Mainland
China and Hong Kong were both closed for a holiday today, Dragon Boat
Festival. This sapped interest and some liquidity from Asian markets.
Major
forex rates traded in a tightly rangebound fashion. Net changes are
small only.
There
was no news flow of note. We had some non-impactful data from New
Zealand. On the central bank front we had Bank of Japan board member
Asahi Noguchi speaking. He didn’t depart from the current BOJ
script, saying the bank must maintain its super-easy monetary policy
to help propel wage increases and thus drive inflation to the 2%
target. USD/JPY saw a range of around 141.63 – 141.90.
We await the Swiss National Bank and then the Bank of England policy decisions. There are previews for each in the points above.
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