From Japan over the weekend was a JiJi report saying the Bank of Japan will drop its YCC policy at the March 18 and 19 meeting, replacing it with a p
From
Japan over the weekend was a JiJi report saying the Bank of Japan
will drop its YCC policy at the March 18 and 19 meeting, replacing it
with a program indicating in advance the amount of Japanese
Government Bonds it plans to purchase. From
Japan today we had revised Q4 GDP data. The country averted a
recession, with revised official data showing the economy
expanded 0.4% in the October-December period last year, the
preliminary figures had shown a contraction.
USD/JPY
fell to just under 146.60 before recovering to be little changed on
the session.
From
China over the weekend were inflation data for February. The y/y CPI
jumped back into positive territory, the first month of inflation
after four months of deflation. The PPI, though, fell into deeper
deflation.
Movement
across major FX rates was subdued. Ranges have been small only.
Asia-Pacific
equity markets were mixed after Wall Street traded softer again on
Friday. Japan’s Nikkei 225 dropped more than 2%, being beaten down
by the stronger yen and losses for chip stocks. China’s Shanghai
Composite is down small while Hong Kong’s Hang Seng rose.
www.forexlive.com
COMMENTS