ForexLive Asia wrap: Yen loses ground on hints that Kuroda may call an emergency BOJ meeting as early as next week

A Nikkei news article this morning carried a story that incoming BOJ head Kuroda hinted he may hold an emergency BOJ meeting as soon as next week to ease policy ahead of the scheduled meeting on April 3 and 4. There has been no confirmation as of writing. Japan February Domestic Corporate Goods Price Index 0.4% m/m (vs. +0.3% expected) Japan February Domestic Corporate Goods Price Index -0.1% y/y (vs. -0.1% expected) Japan January Tertiary Industry Index -1.1% (vs. -0.2% expected) BOJ February policy board meeting were released – the market wasn't much interested, attention has now turned to what the new guard are likely to do The two nominees for the two deputy-governor positions at the BOJ, Iwata and Nakaso, had their upper-house hearings today in the Japanese parliament. They said nothing unexpected. Australia NAB February Business Confidence 1 (vs. 3 previously) Australia NAB February Business Conditions -3 (vs. -2 previously) The New Zealand finance minister Bill English, speaking in parliament, said the NZ drought may curb GDP growth New Zealand REINZ Housing Price Index +7.5% y/y in February (vs. +21.1% prior) Currencies continued their relatively quiet activity from the European and North American sessions into Asia today. EUR/USD had a 20-point range, losing a little ground, as did GBP/USD. There was a little more interest in yen, with USD/JPY trading through 96.50/55 resistance on the back of the ‘emergency BOJ meeting' hint (see bullets, above). It had a narrow range, though, running into offers above 96.65. AUD/USD traded through 1.03 to trigger stops before falling back into a 1.0275/85 range. NZD/USD tracked it, getting above 0.8265 before coming back 0.8240/45.