After a general risk-off on Thursday evening, we saw demand wane for low-risk assets throughout Friday. As a result, we saw the Japanese yen drop off against the majority of its most-traded peers, with the traditionally safe-haven currency being sold-off in favour of higher yielding assets such as the South African rand, which gained almost a per cent and a half against sterling. Elsewhere we saw the Canadian dollar take support from inflation figures released in the afternoon, pushing up to 2-week highs with the figures coming in above forecast.
Looking forward to this week, we have a speech from the Governor of the Reserve Bank of Australia tomorrow, which will be followed up by inflation figures on Wednesday. An interest rate decision from New Zealand will be announced on Wednesday, and followed up by a statement from their central bank governor. The main data release of note will be Thursday’s Chinese manufacturing figures.
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