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Big questions for BoJ and BoE, with no easy answers
US has been out MLK day, making for relatively quiet overnight markets, which in any event are awaiting the next onslaught of US quarterly earnings – Goldman and Morgan Stanley both report this evening – and arguably the week’s main event, the Bank of Japan on Wednesday. The US dollar is a little firmer in what is a mostly USD/JPY (up) driven move, but which has played a small part in AUD/USD failing to hold on to the 0.70 handle it captured mid-way through Monday’s Australia trading day – back to nearer 0.6950 now. Economic news has been very thin on the ground so far this week, in our time zone yesterday ... (full story)