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Forex - Yen flat in Asia with remarks by BoJ's newest board member ahead

Published 03/25/2015, 06:38 PM
Updated 03/25/2015, 06:40 PM
Yen flat in Asia
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Investing.com - The yen was flat on Thursday in Asia ahead of a thin data day, but with comments from the Bank of Japan's newest board member ahead.

New Bank of Japan board member Yutaka Harada's inaugural news conference is today with the economics professor at Waseda University previously suggesting there is room to buy more JGBs.

USD/JPY traded at 119.49, flat, while AUD/USD changed hands at 0.7840, down 0.06% nd EUR/USD at 1.0964, down 0.05%.

Overnight, the dollar remained broadly lower against a basket of other major currencies on Wednesday, after data showed that U.S. durable goods orders fell unexpectedly in February, fuelling fresh uncertainty over the strength of the economy.

In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, declined 1.4% last month, compared to expectations for a gain of 0.4%. Orders for durable goods in January were revised down to a 2.0% gain from a previously reported increase of 2.8%.

Core durable goods orders, excluding volatile transportation items, inched down 0.4% in February, disappointing forecasts for a 0.3% gain. Core durable goods orders were flat in January, whose figure was revised from previously reported gain of 0.3%.

The report came a day after data showing an uptick in underlying U.S. inflation fuelled speculation that the Federal Reserve would still have leeway to tighten monetary policy even with inflation running below target.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was quoted at 97.10, up 0.02%, in Asia.

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