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· General mood is “risk off”

· B.o.J. announces and performs an unlimited purchase of 10-year JGBs in the market

· B.o.E. Governor Bailey hit the tapes in our time zone, but said nothing market moving

What’s Moving

It was a quiet start to the week, with all the majors opening within tight ranges in Asia, before an announcement from the BoJ that they would buy an unlimited number of 10-yesar JGBs. This saw USD/JPY pop higher and trade to fresh seven-year highs.

There was some scrappy position adjustment trades in early afternoon dealings, which saw the Euro, Swissy and Sterling all slightly weaker against the USD.

There is a stack of key U.S. data to be released this week including GDP, Initial Claims and Payrolls.

Data tonight sees:

· U.S. Goods Trade Balance (E: -106.4bln)

· U.S. Preliminary Wholesale Inventories (+1.3%)


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