The focus overnight was on the two central bank rate decisions – the BoJ and RBA. Both kept their monetary policy unchanged, as expected, and the impact on markets was therefore modest. USD/JPY rose from 104.70 to 104.95 and is currently consolidating around 104.80 as traders are waiting for the BoJ press conference. However, there are unlikely to be any surprises there either. Meanwhile, the Australian Dollar rallied after the RBA decision. The market was already expecting that the RBA will keep rates unchanged, but the statement was slightly less dovish, which helped the AUD/USD to rise to 0.7660.
EUR/USD was quiet as usual and traded within a 1.0960-80 range. GBP/USD ran again into decent resistance ahead of 1.2250, and consolidated in Asia after it wasn't able to break the level. Cable fell to 1.2210 ahead of the Tokyo open, but bounced from there and made it back to 1.2255.
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