Modest volatility in JPY and AUD post CB minutes

USD/JPY dipped on comments from the Japanese FinMin regarding foreign bond purchases more than as a result of fairly uninspiring BOJ meeting minutes. Dealers reported modest bids at 93.60 but stops below 93.40 may come into focus a little later.

The AUD is also trading in a tight range after nothing unexpected emerged from the RBA minutes. Next batch of sell orders seen around 1.0330/35 but overall order books are described as light. Cash-rate futures now pricing in only a 25% chance of a rate cut in March.