Currency Analyst since 2010

April 16: Asian session

USD/JPY recovered to 102.26. Yen fell as Japanese stocks rose the most in almost two months. The Bank of Japan’s Governor Haruhiko Kuroda told parliament today the central bank will make the utmost effort to achieve 2 percent inflation. Japan’s Topix stock index rose by 2.3%, the most since Feb. 21.

AUD/USD rose to $0.9375 after dipping to $0.9336. Aussie erased an earlier loss after a report showed growth was stronger than forecast in China (7.4% vs. forecast of 7.3%, down from 7.7% in the previous quarter), the South Pacific nation’s biggest trading partner.

NZD/USD slumped to $0.8578. The New Zealand’s kiwi is down for the second day after inflation slowed and dairy prices fell.

EUR/USD edged up to $1.3825. GBP/USD is little changed in the $1.6825 area after dipping to $1.6656 yesterday. US dollar held a gain against most of its 16 major counterparts as investors sought haven assets amid tension in Ukraine and before Federal Reserve Chair Janet Yellen speaks today.

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