The Japanese currency had a strong start to the week. The yen gained strength from a data release reflecting improved Japanese consumer sentiment in January. It was further boosted almost half a per cent against the US dollar thanks to a statement by a high profile Bank of Japan policy maker that confirmed the economy will not slip back into deflation.
The Australian dollar, however, dropped down against its US counterpart on Monday. This was due to a data release showing that Australia’s newspaper job advertisements was down 6.7% last month, following on from a 3% increase the month before.
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