ForexLive Asia-Pacific FX news wrap: USD slid lower | Forexlive

The
US dollar lost ground today pretty much across the board. USD/JPY was
a notable move, down more than a big figure from its US Monday highs.
During the session here there was little news nor data to account for
the its slide, 2 year UST yields extended lower though, providing the
smoking gun.

AUD,
NZD, EUR, GBP, CAD, CHF, all gained against the USD.

News
flow was limited. Russia’s defence ministry said it fired anti-ship
missiles at mock targets in the Sea of Japan.

The
data release of note was Australian retail sales, preliminary for
February. These beat the central estimate but were still on the weak
side and add to the case of those looking for a Reserve Bank of
Australia pause in its rate hike cycle a the April 4 meeting. As
noted in the bullets above we get more data as an input for this
meeting on Wednesday, Sydney time, the latest monthly CPI reading.
See bullets above for more on this.

Central
bankers. We had a speech and following Q&A from Federal Reserve
Board of Governors member Jefferson. He didn’t provide guidance on
what he thought the next Federal Open Market Committee (FOMC) meeting
would do.

We
also had Bank of Japan Governor Kuroda repeating his view that it was
too early for the Bank to exit its easy monetary policy. More on
Jefferson and Kuroda in the bullets above.

Asian
equity markets: