- BOJ Governor Ueda said the chance of moving rates out of negative in 2024 is "not zero"
- Japan November Industrial production (preliminary) -0.9% m/m (expected -1.6%)
- China's 'state planner' on measures to expand domestic demand, promote stable growth
AUD/USD and NZD/USD rallied during morning Asia trade but have each shown retracements. AUD/USD is almost back where it began while NZD/USD has held a little higher. As with other major-traded forex rates, the swings were not large.
USD/JPY dropped to lows just under 141.20 and has retraced to just above 141.40 as I update.
The news flow for the session was negligible. On the data front, we had not as bad as expected industrial output from Japan for November, and better than expected retail sales.
