AUD getting another leg up

We got a huge beat on building permits earlier

• Australia - Building Approvals (November): +11.7% m/m (vs. expected -1.3%)

This gave the AUD a boost, and now its consolidationg that with another kick a little higher again. Updates:

Expectations have been widespread of a slowing construction sector, the data today puts that assumption into question and has been AUD supportive.

Meanwhile, yen another mover:

• USD/JPY selling off - follows BOJ reducing JGB purchase amount
• Bank of Japan cuts its purchases of JGBs today