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12 Mar 2013
Session Recap: USD/JPY makes new highs; BoJ may call emergency meeting
Quiet day of trading in Asia. The Australian Dollar and the Japanese Yen were the only two currencies entertaining a bit with the first enjoying a short-lived spike, while the latter extended losses once again. Euro is fractionally lower, Pound heaviness is undisturbed, while the US Dollar has been holding its ground after yesterday's losses.
The Aussie, despite the initial rise, failed to maintain gains above the 1.03 as sellers stepped in above 1.0310, area where supply still seems to exceed demand; the Japanese Yen, in the contrary, was unable to challenge back the early fall and made new lows at 96.70, only to stabilize at 96.50, mainly due to rumours of an emergency meeting by BoJ Kuroda, aimed at immediate easing ahead of the monetary policy decision on the 3-4 April.
In the stock market, the Shanghai Composite fell -0.77%, the Nikkei 225 was held at 12,342.11, flat for the day, while the Hang Seng Index had a marginal -0.1% decline.
Main Headlines in Asia
- Session Recap: USD consolidates gains
- Rumour – Incoming BOJ head Kuroda may hold emergency meeting ahead of Apr. 3 to ease policy
- USD/JPY, focus on 97.00/97.80 - JPMorgan
- USD/JPY prints another fresh 3.5-year highs on new BoJ rumors
- BoJ minutes: More easing through longer-dated JGBs, riskier assets an option
- Recap of the RICS house price survey for the UK
- Australia Feb NAB Business Conditions down to -3 vs -2 / Business Confidence down to 1 in Feb from 3
- RBA expected to cut by 50bp vs 75bp - NAB
- GBP/AUD keeps printing post-floating record lows
- AUD running higher on some stops
The Aussie, despite the initial rise, failed to maintain gains above the 1.03 as sellers stepped in above 1.0310, area where supply still seems to exceed demand; the Japanese Yen, in the contrary, was unable to challenge back the early fall and made new lows at 96.70, only to stabilize at 96.50, mainly due to rumours of an emergency meeting by BoJ Kuroda, aimed at immediate easing ahead of the monetary policy decision on the 3-4 April.
In the stock market, the Shanghai Composite fell -0.77%, the Nikkei 225 was held at 12,342.11, flat for the day, while the Hang Seng Index had a marginal -0.1% decline.
Main Headlines in Asia
- Session Recap: USD consolidates gains
- Rumour – Incoming BOJ head Kuroda may hold emergency meeting ahead of Apr. 3 to ease policy
- USD/JPY, focus on 97.00/97.80 - JPMorgan
- USD/JPY prints another fresh 3.5-year highs on new BoJ rumors
- BoJ minutes: More easing through longer-dated JGBs, riskier assets an option
- Recap of the RICS house price survey for the UK
- Australia Feb NAB Business Conditions down to -3 vs -2 / Business Confidence down to 1 in Feb from 3
- RBA expected to cut by 50bp vs 75bp - NAB
- GBP/AUD keeps printing post-floating record lows
- AUD running higher on some stops