Japan continues to pump money into the economy which undermines the yen

Elsewhere, the Japanese yen had a tough day, falling to its lowest this month against the US dollar and the euro following news from the Bank of Japan. The decision to increase support of its lending program and continue bond buying levels caused the currency to falter. The Swedish Krone was another underperformer, as the Consumer Price Index from the country fell unexpectedly. This caused the currency to fall the most in two weeks against the US dollar. The Canadian dollar also saw some disappointing data, as the foreign securities purchases figure missed its predictions, hampering the currency. The Australian dollar, on the other hand, saw strength following the minutes from the central bank’s Monetary Policy Committee minutes. This showed that they did not think the currency was overvalued, giving it some buoyancy. Overnight we saw the wage price index from Australia, as well as the monthly report from the Bank of Japan.

Canadian data due comes in the shape of the wholesale sales figures, while later this evening we see the Producers’ Price Index from New Zealand, and the trade balance from Japan.

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