ForexLive Asia-Pacific FX news wrap: BOJ minutes mixed, but loose policy promise persists | Forexlive

USD/JPY
traded above 135.20 early in the session. Japan reopened after
holidays last week on Wednesday, Thursday and Friday. The news of
note today was the publication of Bank of Japan Minutes from the
March meeting. This was the final meeting under Governor Kuroda and
there were no changes to policy made. The minutes were a mixed bag,
with plenty of wariness on rising inflation indications but
assurances, again, that policy would remain loose. USD/JPY lost
ground after the minutes were published, the less dovish (yen) take
ascendant.

From
Australia we had the National Australia Bank Business Survey results
for the first month of Q2, April. Business confidence registered at
zero, up from -4, not a strong reading. Business conditions,
though, while dropping to +14 from March’s +16, remained solid but
well down from highs circa +24 in mid-2022. Price pressure
indications in the survey (inflation) cooled a little but are still
at higher than comfortable levels. AUD/USD ticked a few points
higher.

Subdued
ranges were evident across major FX otherwise. News and data flow was
light.