Elsewhere we saw the Japanese yen strengthen as revised industrial output came out better than expected at 0.7% when it was forecasted at 0.3%. Following this, the yen continued to strengthen for the reminder of Friday. In other news, the Brazilian economy contracted for the first time since December. This weakened the Brazilian real against the majority of its major peers. Meanwhile, the Indian rupee strengthened by 2% this week. This was the biggest rally since September, based on the optimism surrounding the recent Indian election.
This week we can look forward to Australian monetary policy meeting minutes on Monday, and a monetary policy statement from Japan on Tuesday.
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