Japanese Equities Soar on Banking Reforms
The Nikkei is up almost 2% this morning after the announcement of key banking reforms, with USD/JPY surging towards multi-year highs at ¥105.44.
The euro is still sliding as expectations ramp up for the ECB rate meeting on Thursday.
RBA Leaves Rate Unchanged Despite Overvalued AUD
The RBA decided to leave interest rates unchanged despite concerns that movements in the commodity markets may be leaving the Australian dollar slightly overvalued.
The US dollar is seeing gains as foreign exchange markets start to look towards Friday’s key Non-Farm Payrolls data.