Markets:

  • Gold up $1 to $2035
  • Japan 10-year yields up 2.1 to 0.72%
  • WTI crude oil down 8 cents to $78.46
  • Nikkei down 0.1%
  • Bitcoin up 2.6% to $62,100
  • JPY leads, USD and EUR lag

Bank of Japan board member Takata injected some life into Asian FX trading with a series of comments suggesting tighter policy in Japan, without specifying when. Yields on Japanese bonds rose and the yen jumped, with USD/JPY dropping by as much as 95 pips in steady selling after the comments.

Otherwise, eyes were on bitcoin as it flirted with $60,000 for a time and then broke through in a rise to $62,500. It fell back to just above $61,000 from there but has gotten a second wave ahead of European trading.

Australian data was mixed but the Aussie is 20 pips higher on the day as China sentiment improves and global equities climb. Some of the gains are also a bounce after the heavy selling yesterday.

Otherwise, the leap day hasn't brought much drama to Thursday's trade. Be sure to check out our March seasonals.

Fx news wrap Feb 29