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Markets Daily - Action Forex

Australia’s calendar was quiet though we did see the Statement on the Conduct of Monetary Policy agreed between the Treasurer and the RBA Board. This marks the next step in the response to the RBA Review earlier this year. The changes are in line with the Review recommendations. We expect the February post-meeting communication to include unattributed votes and much more detailed forecasts. Most regional bourses rallied, the ASX 200’s 0.3% gain an underperformance. The exception was Japan, where further (more modest) upward pressure on Japanese government bond yields and the yen upset the Nikkei 225. ....

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