Yen ends the week on a strong note on BoJ inaction

Weekly Report - 01/05/2016

Yen ends the week on a strong note on BoJ inaction

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The Japanese yen rallied decisively last week, with USDJPY closing at 106.29 on Friday after the Bank of Japan left monetary policy unchanged on Thursday against market expectations that the BoJ would ease monetary policy strongly.

Weekly Review

The key fundamental themes this week were dominated by central bank meetings with the US Federal Reserve, the Reserve Bank of New Zealand and the Bank of Japan all meeting to decide on policy.

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The Week Ahead

The week ahead is marked with Japan closed for the entire week due to local holidays. With the start of a new trading month, the markets will be looking at fresh PMI numbers for April across the manufacturing, services and construction sectors. China starts off the week on Sunday with the release of the manufacturing PMI, which is expected to remain unchanged at 50.2, stalling after rising to 50.2 in March.

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