Asia FX Handover 15th March 2019
FOREX.com March 15, 2019 1:00 AM
A snapshot view of currency moves throughout the Asia session, ahead of the UK open.
- GBP extended losses throughout Asia, after UK parliament voted to extend Brexit for up to 3-months, seeing the pound lose the most ground against the CHF and USD.
- No change from BOJ as widely expected: rates fixed at -0.1%; 10Y JGB target remains at around 0%; YCC retained with a 7-2 majority; annual JGB purchases still at Y80trl but in a ‘flexible manner’. Citing weakness in exports, BOJ said CPI is “less likely to increase gradually towards 2%”.
- JPY ticked higher on news Kim Jong Un may rethink North Korea’s moratorium on missile launches. The USD is also softer on news Trump-Xi meeting will not happen at the end of March.
- AUD and NZD are today’s strongest majors, supported by a weaker greenback, firmer commodity prices and the announcement of further stimulus (tax cuts) from China’s Premier Li. Equity markets traded broadly higher in response. Volatility remained contained overall in the FX space though.
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