- Following a poor week of data overall last week, pressure on the Japanese yen did not subside yesterday when Revised Industrial Production data came out at -0.8%. The Japanese economy is still feeling the backlash from the recent Chinese crisis. Today will be another telling day, with the Bank of Japan set to release its monthly statement on interest rates.
- In other news, after being heavy hit by the Chinese crisis over the past month, the commodity-based Australian Dollar, continued on its downward spiral throughout trading yesterday. Focus for currency will now turn to Friday, when the Reserve Bank of Australia (RBA) Governor, Glenn Stevens, is scheduled to speak on the country’s economic situation.
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