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Action Economics morning alert

Canadian Press, The Canadian Press
0 Comments| April 1, 2013


(Action Economics) - 06:54 EST FX markets have been virtually dead into the NY open with all the major centres bar Tokyo closed today. EUR-USD was lifeless in the low 1.28s, though JPY saw some firmness in sympathy with a lift in JGB yields amid pre-BoJ position squaring on concerns that expectations of ultra-aggressive BoJ easing measures may have been over hyped. The BoJ meets later in the week, the first meeting with ultra-dove Kuroda at the helm. Kuroda has pledged to make a one-and-for-all effort to end Japan's deflation problem. USD-JPY is presently about 0.5% lower on the day at 93.70 bid, down from its Friday closing level of 94.19.

06:48 EST Asia stock markets fell while the JGB 10-year yield rose today, the former affected by unexpected weakness in Japan's Topic and China manufacturing output, the latter by pre-BoJ position squaring on concerns that expectations of ultra-aggressive BoJ easing measures may have been over hyped. The MSCI Asia Pacific Index shed 1.3% while the JGB benchmark yield spiked to a high 0.599% before settling to 0.568%, up from Friday's closing level of 0.554%. The BoJ meets later in the week, the first meeting with ultra-dove Kuroda at the helm.

© The Canadian Press, 2013


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