It’s the perfect day, and it’s also Bank of Japan decision day
Read full post at forexlive.com
Eamonn is off today so I’ll be filling in.
First of all, it’s still April 25 in much of the world, so I’m going to enjoy this meme.
For those of you in Asia, it’s now April 26, which is too bad. But it’s also Bank of Japan decision day and we get Tokyo CPI and Australian PPI. So that’s some consolation.
As for the Bank of Japan, the big news in US trade was a report from Jiji that said the BOJ will consider measures to reduce its government bond purchases. However the report didn’t specify exactly when they would consider that, though maybe it’s today.
There was some modest USD/JPY selling on the report but it did help to cap the pair at 155.74.
For the US dollar more broadly, it was a tumultuous one as it rose initially on the hot inflation indications in the GDP report, then slowly reversed completely, in part because of slowing growth.