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      Forex Flash: Yen depreciation may come to a halt - BTMU

      According to Japan Strategist at The Bank of Tokyo-Mitsubishi UFJ, Takahiro Sekido, “favourable conditions abroad have also played a role in reducing the buying of Japanese short-term securities by foreign investors,” the analyst notes.

      And now, some of those favourable conditions might start to change, with uncertainties coming out of Spain, Italian elections, and “a risk that US economic data, like the retail sales report, may indicate weaker momentum in private consumption due to the tax burden increase,” Takahiro adds, thus “Yen depreciation may come to a halt especially given the speed of recent dollar appreciation,” he concludes.

      RBA monetary policy statement: GDP cut on subdued investment, inflation outlook

      The RBA monetary policy statement has just been released, with the central bank cutting the growth outlook as well as the inflation outlook on subdued investment and high Australian Dollar. The new forecast for 2013 is at 2.5% vs 2.75%; The December 2013 GDP projection stands now at 2-3% vs a previous 2.25%-3.25% range.
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