Key Points
SYDNEY (Reuters) -Asian share markets sputtered on Monday while the dollar looked vulnerable ahead of a reading on U.S. inflation that could hasten, or delay, the start of global rate cuts...
The yen edged higher as Reuters reported a growing number of Bank of Japan policymakers are warming to the idea of ending negative rates this month on expectations of hefty pay hikes in this years annual wage negotiations...
The slower core would complement the softer conditions seen in the February payrolls report, where unemployment hit a two-year high of 3.9%, and would keep the Federal Reserve on track to cut rates in the next few months...
The drop in yields has undermined the dollar, especially against the yen given market speculation that the BOJ will end its negative rate policy (NIRP) and yield curve control (YCC) this month...
We expect JPY strength tactically on short-covering in the build-up to the March 18/19th BoJ meeting, one we think is live for a change in YCC and NIRP, and recent higher inflation readings only add to our conviction to be tactically long JPY, said Paul Robson, head of G10 FX strategy at NatWest Markets...
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