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DOLLAR-YEN: USD/JPY registers a session high of USD/JPY 112.63, trading 8 pips
higher on the day.
- Little in the way of breakthrough news, although BoJ Gov. Kuroda has noted
that he believes current MonPol settings will bring about inflation in Japan.
However, Kuroda did note that the "possibility of reaching the inflation target
in FY2020 is low."
- Earlier in the day FinMin Aso revealed that Japan will compile a second
additional budget for 18/19 with focus on mitigating the effects of the recent
natural disasters and the scheduled 2019 sales tax hike.
- Nikkei 225 off of worst levels but still some 0.8% softer on the day.
- Bears failed to consolidate below Monday's low of Y112.42 in early dealing,
with bulls eying the 55-DMA at Y112.72 before challenging the 50-DMA at Y112.87.
MNI London Bureau | +44 0203-865-3809 |