ForexLive Asia Wrap: BOJ Head Kuroda Spoke in the Diet Today Ahead of the April 3 & 4 BOJ Policy meeting

The forex trading headlines for Asia trading today New BOJ head Kuroda spoke before the Japanese parliament today. He did not say anything of surprise to the markets, reiterating various points: BOJ will do whatever it takes to end deflation BOJ has not been buying enough in terms of size, type of asset Will consider extending bond maturities – increasing purchases of long term bonds Will consider scrapping banknote rule Hard to set nominal GDP as policy target Wants to Achieve BOJ's 2% Price Target in Two Years Kuroda will now appear before Japan parliament's upper house on March 28 South Korea Q4 GDP revised lower to +0.3% q/q (vs. +0.4% expected) Cyprus banks to remain closed until Thursday (28 March) New Zealand February trade balance came in much above expectations at +414m (vs. -12m expected) New Zealand February exports 3.91bn (vs. 3.55bn expected) New Zealand February imports 3.49bn (vs. 3.58bn expected) RBNZ said it is reviewing housing loan capital adequacy requirements RBA Governor Glenn Stevens gave a speech today: "Financial Regulation:Australia in the Global Landscape"; there was nothing of relevance to monetary policy or FX EUR/USD traded in a dead range today after all the activity in European and American markets. GBP/USD, too had a nothing range. AUD and NZD were both very quiet – trading a few points lower as the Shanghai composite came off a little in the morning session (there was a rumour of a Chinese rate hike doing the rounds but the source was not the most credible, seemed to be just chatter) USD/JPY was the mover today – it initially fell a little as Kuroda began his testimony and Q&A before parliament, but found support just below 94.00 and traded as high as 94.46 before settling sideways for the rest of the day.