The Japanese yen takes charge after the BOJ trims bond purchases
Most major currencies are almost unchanged on the day against the USD, as a subdued trading session so far kept things in check.
The biggest mover on the day is the JPY - posting gains as traders pounce on news that the BOJ announced "tapering" to its bond purchases here. Word on the street is that leveraged funds were behind the selling in USD/JPY after the longer-dated bond purchases were trimmed as well.
Meanwhile, the AUD is also posting minor gains today after building approvals data defied expectations that a slowdown in the sector would start materialising in the Australian economy. That helped to drag the NZD higher as well.
Other major currencies are trading sideways on the day with limited action - as the dollar is holding steady for the most part. Here are the ranges that we have so far today:
- EUR/USD - 18 pips
- USD/JPY - 68 pips
- GBP/USD - 24 pips
- USD/CHF - 17 pips
- USD/CAD - 20 pips
- AUD/USD - 26 pips
- NZD/USD - 32 pips
