Major overnight headlines:
• Japanese buying of foreign bonds in longest stretch since November 30th, Bloomberg says
• Japanese GDP rises 0.9% q/q in Q1 versus a rise of 0.7% expected
• Germany’s Schaeuble says it’s “difficult” for France to enforce economic reform
• Wolfgang Munchau says banking union is “irrelevant” for the crisis, Euro Intelligence reports
• EMU CPI falls 0.1% m/m in April, matching expectations
• Norwegian GDP shrinks 0.2% q/q in Q1 versus a rise of 0.3% expected
• Fed’s Plosser says “deflationary risk not that large”, Bloomberg reports
• Janet Yellen seen as most likely successor to Bernanke in new poll, according to Bloomberg
Click here to read the full report: FX Daily
BMO