The New Zealand dollar stayed steady against the US dollar yesterday following better than expected housing price inflation data released on Sunday evening (although still in negative territory), whilst trading slightly lower than its Aussie counterpart.
The Japanese yen weakened mildly against the euro and US dollar yesterday in anticipation of the Bank of Japan’s monetary policy meeting early this morning. The central bank unanimously voted to keep policy unchanged as was widely expected, whilst lowering its growth forecasts marginally.
The Australian dollar remains flat following the overnight release of the minutes from the latest Australian central Bank meeting. Conversation surrounding the current relative strength of Australian dollar and how it might affect the economy dominated the minutes; but, failed to cause a reaction in the market.
No major economic data is due to be released today; however, this evening will see key inflation data released from New Zealand as well as growth figures and industrial production data from China.
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