It proved to be another bad day for the Japanese yen, with weaker-than-expected business survey figures causing the currency to fall to its lowest level against sterling in 3 weeks. Consumers in Japan also saw a 3% increase in sales tax yesterday which may harm future retail sales figures in the country.
The Australian dollar had a mixed day, reaching a four-month high against the US dollar after interest rates were held at a record low 2.5%, before receding again following comments hinting at reduced stimulus in the country.
Elsewhere the Canadian Dollar remains fairly flat ahead of Friday’s employment numbers – these are likely to shape the Canadian dollar’s performance for the remainder of the month.
Today looks to be relatively quiet on the data front, with building approvals from Australia being the key release today.
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