• BOJ Governor Ueda said the chance of moving rates out of negative in 2024 is „not zero“
• Japan November Industrial production (preliminary) -0.9% m/m (expected -1.6%)
• China’s ’state planner‘ on measures to expand domestic demand, promote stable growth

AUD/USD
and NZD/USD rallied during morning Asia trade but have each shown
retracements. AUD/USD is almost back where it began while NZD/USD has
held a little higher. As with other major-traded forex rates, the
swings were not large.

USD/JPY
dropped to lows just under 141.20 and has retraced to just above
141.40 as I update.

The news flow for the session was negligible. On the data front, we had not as
bad as expected industrial output from Japan for November, and better
than expected retail sales.

This article was written by Eamonn Sheridan at www.forexlive.com.