Brief overview of Asian trade
- Yen weakened again after comments from Japanese PM Abe that BOJ must attain 2% inflation target:
- EUR/JPY opened slightly above its 119.00 closing level, gapped quickly from 119.20 to 119.70, and slowly moved to test 120.00:
- AUD triggered trailing stops below 1.0525 after more poor domestic economic data, this time job ads and house financing:
- Chinese stocks rise by over 2.5% after a down-day on Friday, Nikkei closed for public holiday:
- Fed’s Evans comfortable with current policy, should create more jobs, will exit QE if successful:
- China FX regulator looking at other ways of using FX reserves.