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01:30 Australia National Australia Bank's Business Confidence March 7 4
03:00 Japan BoJ Interest Rate Decision 0.10% 0.10% 0.10%
03:00 Japan Bank of Japan Monetary Base Target 270 270 270
03:00 Japan BoJ Monetary Policy Statement
04:30 Japan Eco Watchers Survey: Current March 53.0 54.1 57.9
04:30 Japan Eco Watchers Survey: Outlook March 40.0 34.7
The yen rose for a third day and a measure of implied rate swings in currency markets fell to a seven-year low as the Bank of Japan refrained from adding extra stimulus at a policy meeting. The BOJ kept unchanged a 60 trillion yen to 70 trillion yen ($680 billion) target for yearly expansion of the monetary base after ending its two-day policy meeting today, as was forecast in a Bloomberg News survey of economists. Governor Haruhiko Kuroda said last month the chances are high that inflation will reach the central bank’s target of 2 percent next year.
The dollar maintained a two-day decline versus a basket of major peers before minutes of the Federal Reserve’s March meeting are released tomorrow. The Fed will release minutes of its March 18-19 meeting tomorrow. Policy makers at the gathering cut monthly bond purchases by $10 billion to $55 billion. Fed Chair Janet Yellen said the central bank may start to raise interest rates “around six months” after ending its asset-buying program.
Minneapolis Fed President Narayana Kocherlakota and Philadelphia Fed President Charles Plosser are scheduled to speak today.
New Zealand’s dollar gained for a third day against the greenback as falling volatility boosted the allure of higher-yielding assets.
EUR / USD: during the Asian session, the pair traded in the range of $ 1.3740-50
GBP / USD: during the Asian session, the pair rose to $ 1.6620
USD / JPY: on Asian session the pair fell to Y102.75
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