Asian Session Recap – December 20, 2013

  • BOJ: No changes to interest rates, monetary policy
  • New Zealand credit card spending up by 6.9% annually
  • German PPI and GfK consumer climate index up for release
  • U.K. final GDP, current account balance, public sector borrowing data due

Yen bears, unite! Traders took advantage of the BOJ monetary policy announcement to sell the Japanese yen, as the central bank committed to its aggressive easing program and emphasized its readiness to increase stimulus if needed. For now, BOJ Governor Kuroda and his men decided to keep interest rates and monetary policy unchanged.

Meanwhile, the Kiwi managed to sneak in a few gains, thanks to a 6.9% annual jump in credit card spending, up from the previous 3.3% increase. The rest of the dollar’s counterparts, on the other hand, continued to grind lower for the past few hours.

Up ahead, we have potential volatility for euro and pound pairs, with the German PPI and GfK consumer climate index up for release, along with the U.K.’s final GDP, current account balance, and public sector net borrowing data.

See also:

U.S. Session Recap

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