Today's market news: Bank of Japan Conducts Rate Check, Yen Begins Stabilization; US Dollar Remains Firm; 2-Year Treasury Yields Exceed 3.83%; New Zealand GDP Strong. Read more:
The Japanese Yen, which has weakened dramatically over recent weeks and months, has begun to stabilize after the Bank of Japan reportedly conducted a rate check late in the Asian session yesterday rose very strongly to again approach close to the ¥145 level.
New Zealand GDP data came in much better than had been widely expected, showing an increase of 1.7% in the last quarter compared to a consensus forecast of 1%. The news had little effect upon the New Zealand Dollar. Daily new coronavirus cases globally dropped last week for the eighth consecutive week, giving rise to the hope that the pandemic is finally over in any meaningful sense.
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