Forex news for Asia trading Wednesday 21 January 2015

Early movement today in the New Zealand dollar, which fell after the negative headline CPI for Q4 (q/q). The initial low in the immediate wake of the release, though, proved to be the low for NZD/USD, it then tracked sideways for a few hours before edging up to cover the ‘gap’. Its just above 0.7650 (as of writing).

Staying down south, the AUD/USDlost a little ground into late-morning (Australian time) before staging a solid rally, up around 60 points in the hours leading up to in the aftermath of, the BOJ statement.

AUD strength was indicative, perhaps of some USD weakness across the board, EUR, GBP and even the CHF all gained a little ground.

USD/JPY joined in, it lost a little ground in the lead up to the BOJ announcement, dragging EUR/JPY down a little with it. Once we had the BOJ headlines though it dropped much harder, down through 118 and then just belwo 117.70 before finding any bounce. It remains below 118 (as of writing).

Still to come! … Bank of Japan (BOJ) Governor Kuroda press conference at 0630GMT