Japanese Yen and New Zealand dollar on the fall

Japan’s Gross Domestic Product (GDP) was released at 0.1% below expectation late on Sunday, and since then we have seen a spate of yen weakness, with the Pacific currency falling against most major currencies yesterday. There is very little further data to be released from the country until Thursday, when they release their monetary policy and hold a Bank of Japan (BOJ) press conference.

New Zealand also struggled yesterday, despite very strong retail sales data, released at 0.6% above expectation. The Antipodean currency fell almost 1% against both sterling and the US dollar.

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