The JPY has firmed in overnight Asian trade, USD/JPY down at 99.80 compared to a North American close Monday around 100.05, while EUR/JPY is down at 133.15 from around 133.90. The move comes with Asian stocks trading a little mixed, but with the Nikkei underwater.
Asian sentiment won’t have been helped by the release of Singaporean growth data. Singapore’s Q-1 GDP fell an annualized 19.7% from the previous quarter, more than double the median forecast of 9.6%. The Singaporean Trade Ministry fears the economy could shrink 6-9% this year.
Elsewhere Australia’s Quantas Airways announced 1.750 job cuts and slashed its profit forecast. S&P has duly lowered Quantas’ rating to BBB/A-3; outlook negative.
For today, very little European data due;
06:45 GMT: French current acccount (Feb)
