The prospect of Japan officially preparing to declare an end to deflation helped support JPY today. USD/JPY traded lower towards 147.40. Selling in yen crosses weighed on AUD and NZD notably.
In trade news after Trump postponed tariffs on Mexico and New Zealand, again, Canada responded by saying it’d delay its second wave of tariffs. The first wave will be left in place.
Federal Reserve Bank of Atlanta President Raphael Bostic spoke, with some muddled messaging. He said that if the Bank waits for trends to appear in national economic data before acting, we could be too late. He followed this up by saying the FOMC would have to have ‘clarity’ to move rates next, and that they’ll have to be patient. Knowing central banks as we do the resolution of this dissonance is likely to be favouring waiting, not moving pre-emptively.
We had trade data from China today, with a headline miss on exports. China will publish February inflation data over the weekend.
The US moves onto Daylight Saving time this weekend.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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