JPY WEAKENS ‐ REMINDER SENT THAT BOJ CAN DO MORE
• USD is mixed as news flow is limited; AUD rallies & JPY is weak.
• CAD flat awaiting tomorrow’s Gov Carney’s final BoC meeting. USDCAD has shifted to higher part of range but range still in tact.
• EUR flat— limited news flow; EUR has outperformed crosses in May.
• GBP flat with limited news flow; technical warn of downside.
• JPY is weak, retracing two days of strength. Kuroda suggest that there has been no change in economic conditions despite market swings.
• CNY hits fresh record high. Moody’s expects GDP of 7‐8% out to 2017.
Click here to read the full report: FX Daily
Scotiabank