FX Update: USD-JPY sprang to a 13-day high
FX Update: USD-JPY sprang to a 13-day high of 102.39, up from yesterday's closing level at 101.64. This led dollar losses in some other pairings today, while EUR-JPY and other yen crosses also rallied. A survey by the BoJ, which is part of its comprehensive Tankan poll, found that corporate inflation expectations have continued to ebb despite the central bank's recently revamped monetary policy framework. This will keep the pressure on the BoJ to increase stimulus, while an advisor to PM Abe, Nobuyuki Nakahara, said that the idea for the BoJ to buy foreign debt would be "viable if not taken as forex intervention." Elsewhere, EUR-USD fell to a two-day low of 1.1183. A rally across Asian stock markets lifted the AUD and NZD, which posted five-day and one-week highs versus the USD, respectively.