The JPY crosses were in focus, dipping........>

FOREX: The JPY crosses were in focus, dipping lower into the BOJ decision as

some suggested that the later than usual time pointed to impending action (it

was the latest delivery of the decision since the intro of YCC in Sep 16). The

BOJ introduced forward guidance, noting that it intends to keep very low rates

for an extended period of time, while it maintained its 10-Year JGB yield target

at about 0.00%, albeit highlighting greater flexibility in bond operations

moving forwards. There was a 7-2 vote on YCC matters. The Bank also trimmed its

CPI forecasts & tweaked its ETF purchase programme. The JPY crosses unwound

their pre-BOJ losses, and went on to print fresh highs before easing a touch.

- Elsewhere CAD came under pressure on the back of a report from the National

Post which noted that "a source said the U.S. side, fuelled in part by

Lighthizer's dislike of Freeland, has decided to not even let Canada back into

the process (NAFTA talks) until it makes a substantive concession." USD/CAD hit

C$1.3096, last ~C$1.3050.

- EZ CPI & GDP, as well as U.S. PCE data & Canadian GDP present the risk events

on Tuesday.