The Japanese yen had a strong start to the week, even though data showing weaker growth than had been previously reported for the fourth quarter – this came in at a 0.4% rise compared to the expected quarter on quarter rise of 0.6%. Also on Monday, Japan’s adjusted current account surplus was announced as ¥1.06 trillion, narrower than the expected ¥1.6 trillion.
The Canadian dollar also started the week well, making slight gains against its US counterpart. However, data showed that housing starts in Canada rose by 156,300 units last month, below expectations, which limited gains for the Canadian currency.
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