BoJ's Nakaso: Depending on growth and inflation, further measures must still be deemed as necessary — RTRS
EUR/USD was quiet overnight as traders are waiting for the ECB rate decision today at 12:45 BST. The central bank is expected to keep rates unchanged, but there are speculations that it may extend its QE programme. President Draghi will hold a press conference at 13:30 BST. EUR/USD traded 1.1235-60 in Asia.
GBP/USD started the day around 1.3330 and made it to a high of 1.3360 after the Tokyo open. The commodity currencies are slightly up on the day, with AUD/USD rising from 0.7665 to 0.7685 and NZD/USD climbing from 0.7445 to 0.7475. USD/CAD saw high volatility yesterday amid a Bank of Canada rate announcement and a surprise in API oil inventory data. The rally in Oil pushed USD/CAD lower and it fell from 1.29 to 1.2865 in Asia.
USD/JPY rallied from 101.65 to 101.85 ahead of the Tokyo open, but was unable to sustain momentum and eventually fell back to 101.40.