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· General mood is “risk off”

· Fed’s Bullard: Inflation too high, but sees no recession risk

· U.S. Treasury Secretary Yellen: Will urge IMF to increase economic pressure on Russia

What’s Moving

It was a quiet session on Friday, with most of Europe, Canada and Australia closed for holidays, which saw little in the way of major action on currency markets.

Gold was slightly firmer, and oil was largely flat, while the big mover was the USD/JPY, which hit fresh seven-year highs. There was also some selling of AUD/NZD on expectations that New Zealand interest rates will rise faster than Australian rates.


Should be a quiet start to the week in Asia today, with little major on the calendar and with a relatively orderly end to trading in New York overnight.

The data calendar in Asia today is light with little more than Japanese Industrial Production (E: +0.1%) due. The RBA will also release its minutes from its most recent meeting.


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