The Bank of Japan undoubtedly caused many investors to have a sleepless night as most were anticipating an increase in the BoJ’s level of intervention, which had until now been effective in propelling the Japanese GDP. However, the BoJ opted for the status quo, disappointing Asian markets, which lost a little over 1%; the USD/JPY and EUR/JPY pairings are down (the yen is up) by nearly 2% while the yen gained some 3% against the New Zealand and Australian dollars which are both struggling these days. The Canadian dollar is also down, albeit to a lesser extent, with the USD/CAD pairing remaining far from recent highs.
In Europe, French and German inflation data are expected tomorrow morning as well as Eurozone Industrial Production figures. This cause could affect the single currency.
In North America, the week is starting out quiet, with few indicators being released and the market continuing to digest last Friday’s employment data. This will give the Eastern part of the country time to enjoy tropical storm Andrea! Benoit Marcoux
Range of the day: 1.0180-1.0275
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NBC Daily Forex : June 11, 2013
Published 06/11/2013, 09:20 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : June 11, 2013
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