Mar. 11: Asian session
Asian shares pared gains as the Bank of Japan kept monetary policy unchanged and investors weighed data showing China’s credit growth trailed estimates. MSCI Asia Pacific Index gained 0.3% after rising as much 0.5%. Japanese Nikkei 225 is up by 0.5%.
USD/JPY touched 103.42, but then edged down by 20 pips. AUD/USD slipped to $0.9010, but held above $0.9000 mark and recovered to $0.9030 despite the increased China concerns and Ukraine tensions. NAB February business confidence index disappointed, coming at 7 vs .9 prior. NZD/USD strengthened to $0.8485. Kiwi is waiting for the RBNZ policy meeting on Mar. 13 (Thursday) as the rate is widely expected to rise by 0.25 bps to 2.75%.
EUR/USD edged a bit down, to $1.3865. GBP/USD is trading in the $1.6645 area after it lost about 70 pips yesterday.