With America closed for Labour Day yesterday it was a quiet day all around and the focus shifted to the Far East and the news that was coming out of Japan and Australia.
Firstly, the Bank of Japan after its 2 day meeting decided to do absolutely nothing. It neither changed its interest rate which remains at 0.1%, which was expected, or made any further funds available to its banks to try and weaken the Yen. This inaction has simply paved the way for further appreciation of the Yen as previously the only resistance came in the...
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