Week in FX Asia – Japan Indicators Help Yen Drop

The yen continues to devalue to new lows against the US dollar. The catalyst for this week’s slump were the national economic indicators such as Japanese Final GDP, which came in at a disappointing 0.0%, underscoring the lack of growth in the Japanese economy. This week was heavy with central bank statements and rate announcements but few surprises. All major economies held rates and Japan was no exception.

This policy meeting was the final one presided by governor Masaaki Shirakawa, who will be replaced by incoming governor Haruhiko Kuroda. The new governor is a proponent of strong monetary measures to kick-start the economy as is on-side with PM Shinzo Abe’s brand of politics and economic policy.

• China Commerce Minister Warns US, EU and Japan about Devaluation
• Japan China Trade Down 8.2 Percent in the First Two Months of 2013
• China’s Exports Exceed Forecasts
• Japan Heading in Right Direction
• Japan Nominates Vice Finance Minister to Replace Kuroda at ADB
• Bank of China Resumes Repos to Drain Liquidity
• Asian Stocks Higher following US Dow’s lead
• Australia extends run to 21 recession-free years
• Japan Opposition to Argue Iwata BoJ Deputy Nomination
• China Maintains 7.5% Growth Target
• BOJ Governor Nominee Kuroda Signals Aggressive Monetary Policy Is On Its Way
• Slower Growth may Force China to Loosen Policy Grip

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